Stunning turn key, fully leased and legal Triplex in the heart of booming Fishtown is now available with a whopping 9 years left on the tax abatement. Calling all investor or owner occupants looking to build or start your portfolio (one upcoming vacancy, June 2025). Live in one unit and generate revenue from the others, or purchase as a turn-key investment in an area with high demand and low vacancy. All other units have extended another year with a yearly rental increase of 1.9%. Appraised for $700k in 2022. All of the units offer newly installed central air and heat. Tenants pay all utilities (electrical, water, and gas). The triplex has maintained a low vacancy rate every year demonstrating consistent tenant demand and reliable rental income. The units have rented in less than 14 days once listed.
1529 E Berks is in a sought after pocket of Fishtown on a quiet residential block just steps away from ReAnimator Coffee, Cedar Point Bar and Kitchen, Loco Pez, and the trendiest new attraction Anna and Bel boutique hotel restaurant and lounge. This is an ideal location for commuting. You are a 5 minute walk to the El and bus routes and a short drive to I-95/ I-76. Vibrant Frankford Ave is within walking distance to enjoy concerts at the Fillmore, a comedy show at Punchline, a casual shopping date with a friend and experiencing some of the top rated restaurants in Philly. Take your bike for a quick ride to Penn Treaty Park for a picnic or take a run through the newly finished Delaware River Trail. This neighborhood is a hot ticket for any investor/owner occupant.
Enter the common foyer where you have exposed brick throughout the hallway adding to the personality of this boutique Triplex. The basement door will be to your right that is fully equipped with a french drain system and sump pump with washer and dryer. Make your way down the hall to Unit 1 (2 bed /1 bath at $1829 and extended another year to $1864) with high ceilings and big windows plus a private backyard oasis. As you make your way up the stairs you enter Unit 2 (1 bed/1 bath at $1525 extended another year to $1554) with a generous size bedroom equipped with large windows overlooking a picturesque street. Continue your way up to the third floor and you enter Unit 3 (1 bed/1 bath at $1320) with a large kitchen and sizable bedroom at the front of the building- rounding out this unique Triplex exuding with warmth and character definitely not the kind of cookie-cutter apartment complex you see everywhere else.
There is a video included to view a tour of the Triplex. Annual operating expenses is $13,379/yr and annual income is $56,088/yr with projection to go up with annual rental increases. Current cap at 5.97%. Please reach out to Erin Larkin for any inquiries or questions.
Presented By: Elfant Wissahickon Realtors
Interior Features for 1529 E Berks Street
Bedrooms
Three Bedroom Units Count
Other Interior Features
LivingAreaSourceAssessor
BasementOther
Basement (Y/N)Yes
Central Air Y/NYes
Fireplace Y/NNo
Heating FuelNatural Gas
Heating Y/NYes
Hot WaterElectric
General for 1529 E Berks Street
Acceptable FinancingCash, Conventional, FHA
AccessibilityNone
Architectural StyleTraditional
Cap Rate5.97
CityPHILADELPHIA
Construction MaterialsMasonry
Cool FuelElectric
CoolingCentral A/C
CountyPHILADELPHIA
DirectionsBerks and Cedar
Electric200+ Amp Service
ExclusionsAll Tenant personal property
Garage Y/NNo
HeatingHot Water, Radiant
Lease TypeYearly
Lot Size Square Feet1399.00
Lot Size UnitsSquare Feet
MLS Area19125 (19125)
ModificationTimestamp2025-05-28T11:15:42
MunicipalityPHILADELPHIA
Net Operating Income42709.00
New ConstructionNo
Number Of Units Total3
Number of Units Leased3
One Bedroom Units Count2
Operating Expense13379.00
Other StructuresAbove Grade, Below Grade
Other UnitsUnit 1, Unit 2, Unit 3
OwnershipFee Simple
PossessionImmediate
Price Per Sq Ft Total AG331.94
Property SubtypeTriplex
Property TypeMulti-Family
School DistrictTHE SCHOOL DISTRICT OF PHILADELPHIA
Security FeaturesCarbon Monoxide Detector(s), Fire Detection System, Main Entrance Lock
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