$1,475,000

Property Description

Positioned on a prime corner of one of the city's most vibrant corridors, 1642 South Street represents a rare chance to acquire a high-performing, fully occupied asset. This isn't just a building; it's a turnkey addition to any portfolio where you can start collecting rent on day one. The property features two expansive 2-bedroom, 2-bathroom apartments that feel incredibly airy and bright. Thanks to the corner orientation, oversized windows to the north and east flood the living spaces with natural light, creating a sense of volume and warmth that is hard to find in urban rentals. These units offer the kind of scale and layout that keeps occupancy high and turnover low. Anchoring the building is a thriving commercial space occupied by a long-term triple net (NNN) tenant. With a recently signed five-year renewal and an additional five-year option on the table, the ground floor provides the kind of stability and hands-off management investors crave. This is an investor's dream defined by immediate cash flow, significant upside, and a location that continues to see incredible momentum. Between the steady commercial income and the high-demand residential units, the value proposition here is undeniable. Don't miss this opportunity to own this great building.

Property Facts & Features

Property Type

Multi Family

Status

For Sale

Listed

Aug 12, 2026

Price per Sq Ft

$390/sqft

ZIP Code

19146

Parking

On Street

Heating

Forced Air

Cooling

Central A/C

Construction

Masonry

Style

Contemporary

Property Tax (2026)

$14,093/yr

Assessed Value

$1,006,800

Neighborhood

Center City

County

Philadelphia

School District

The School District of Philadelphia

Features & Amenities

Location

Lat 39.94412 · Lng -75.17021