655 N 33rd St

Philadelphia, PA 19104

Drexel University/UPenn Duplex on a great block close to campus with new construction in every direction. This solid building has 2 units that have been fully occupied with no vacancies for the last 8 years. Unit 1 - 3bd/1.5ba bilevel unit with a spacious living room and dining room, renovated kitchen with espresso cabinets, granite countertops, stainless steel appliances, as well as, a convenient powder room on this level. Upstairs features 3 bedrooms and a full hall bathroom with 2 large hall closets. This unit also includes a huge dry unfinished basement great for storage and has the mechanicals and in unit laundry. Large rear yard is great for barbecues and relaxing. Unit 2 - 1bd/1ba setup as a spacious flat with awesome center city skyline views. Good size living room and bedroom and hall bathroom. Both units have under market rents and could use some upgrades to obtain top rents in this desirable?university area. Both units are on month to month leases and current rents are $2155/month (Unit 1 $1600/month & Unit 2 $555/month). Projected rents are Unit 1 $2200/month and Unit 2 $1100/month totaling $3300/month depending on upgrades. Both tenants pay electric/gas/cable, and the landlord pays water. Developer Opportunity; The lot is huge at 15.5 X 100 ft and the seller has floor plans for a triplex with 3 - 2bd/1ba units and could possibly have 2 - 2bd/1ba units and a 4bd/2ba unit if you finish the basement. If you choose the triplex renovation, rents can exceed $5500/month. Many options for this property especially since it is located in a desirable area that will never lose value with off campus living at high demand. Co-listing agent is the owner.