1247 S 53rd St 3 Unit Apartment Building $721,854 CAD ($240,618 CAD/Unit) 7.63% Cap Rate Philadelphia, PA 19143

1247 S. 53rd Street presents the opportunity to acquire a fully renovated, turnkey triplex in the rapidly appreciating Kingsessing neighborhood of West Philadelphia. The property was gut renovated in 2019 and features three well-designed residential units with modern finishes, separate utilities, in-unit laundry, and strong tenant appeal. The property also benefits from more than four years remaining on the Philadelphia tax abatement, significantly enhancing cash flow and lowering operating expenses.
The unit mix consists of:
Unit 1: 2 Bedroom / 2 Bathroom + Den (currently leased month-to-month; tenant would be happy to sign a long-term lease extension)
Unit 2: 2 Bedroom / 1 Bathroom (currently intentionally vacant to accommodate a potential owner-occupant buyer)
Unit 3: 1 Bedroom / 1 Bathroom (leased through February 2027)
The property offers flexibility for both investors and owner-occupants alike. An investor can stabilize the vacant unit and maximize cash flow, while an owner-occupant has the opportunity to move directly into Unit 2 while offsetting expenses with rental income from the remaining apartments.
Located just blocks from the Baltimore Avenue commercial corridor, the property offers excellent access to University City, CHOP, HUP, Penn, Drexel, Clark Park, and major public transit lines. The surrounding neighborhood continues to experience strong rental demand and appreciation driven by ongoing institutional expansion and continued investment throughout West Philadelphia.
This is an ideal opportunity for buyers seeking stable in-place income, rental upside, tax-abated cash flow, and long-term appreciation in one of Philadelphia’s fastest-growing rental markets.