1720 Wallace Street
Philadelphia, PA 19130
Listing provided courtesy of: Keller Williams Real Estate -Exton
Property Description
Exceptional 4-Unit Income Property in the Heart of the Art Museum Area!
Incredible opportunity to own a rent-ready, cash-flowing multi-family building in one of Philadelphia’s most desirable neighborhoods—Fairmount/Spring Garden. This well-maintained 4-unit property features three spacious 2-bedroom, 2-bath units and one 1-bedroom, 1-bath unit. Ideal for investors or owner-occupants seeking immediate income and long-term value.
Three units are tenant-occupied, generating $56,760 in gross rent in 2024, with strong rental upside—rents have not been raised in 3 years. The owner-occupied 2-bedroom/2-bath unit has rental potential of $2,200–$2,400/month.
Market Rent Value Potential
APT 101- 1350
APT 102 - 2200 (rented out beginning mid June)
APT 201 - 2500
APT 202 - 2200
TOTAL - 8,150/month = 97,800/year in gross income.
At asking price the cap rate is 7%. based on net rental income at $80,000 (after ins, taxes, and maintence)
Property Highlights:
Turnkey condition—fully rent-ready and move-in ready
Three new A/C units installed in the last 3 years
Two units with private roof decks offering skyline views
One unit with private backyard patio
Every unit has washer/dryer, dishwasher, fireplace
Immediate cash flow with future growth potential
Perfect blend of income-producing and lifestyle location
Located in the vibrant Art Museum area with easy access to Kelly Drive, I-76, Center City, and public transit. A rare find in a high-demand rental market—whether you're building your portfolio or looking to live in one unit while renting the others, this is a must-see.
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Features:
Electric Water Heater Central Air Carpet, Hardwood On Street Public Sewer
| Price: | $1,150,000 |
| Beds: | 7 |
| Interior (SQFT): | 2,397 |
| Lot Size (SQFT): | 1,742 |
| Property Type: | Residential Income |
| Year Built: | 1920 |
Listing provided courtesy of: Keller Williams Real Estate -Exton. The information included in this listing is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The information on each listing is furnished by the owner and deemed reliable to the best of his/her knowledge, but should be verified by the purchaser. BRIGHT MLS assumes no responsibility for typographical errors, misprints or misinformation. This property is offered without respect to any protected classes in accordance with the law. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Information is deemed reliable but not guaranteed. © 2025 by BRIGHT MLS. All rights reserved. Listing last updated on 05/08/2025 13:10:41
Art Museum
The Philadelphia Museum of Art is among the largest art museums in the United States. It has collections of more than 227,000 objects that include "world-class holdings of European and American paintings, prints, drawings, and decorative arts."
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