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1720 Wallace St, 
Philadelphia, PA 19130

$1,150,000


7

Beds


Bath


2,397

Sq Ft


Multi-Family

Active

Listed by

Michael Suh

Keller Williams Real Estate -Exton

Last updated:

May 20, 2025, 01:29 PM

MLS#

PAPH2476616

Source:

BRIGHTMLS

About This Home

1720 Wallace St

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.

Home Facts

Multi-Family

7 Bedrooms

Built in 1920

Price Summary

1,150,000

$479 per Sq. Ft.

MLS #:

PAPH2476616

Last Updated:

May 20, 2025, 01:29 PM

Added:

16 day(s) ago


Rooms & Interior

Bedrooms

Total Bedrooms:

7


Structure

Structure

Architectural Style:

Converted Dwelling

Building Area:

2,397 Sq. Ft.

Year Built:

1920


Lot

Lot Size (Sq. Ft):

1,742


Finances & Disclosures

Finances

Price:

$1,150,000

Price per Sq. Ft:

$479 per Sq. Ft.

Source:BRIGHTMLS
The information being provided by Bright MLS is for the consumer’s 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 is deemed reliable but not guaranteed and should therefore be independently verified. © 2025 Bright MLS All rights reserved.

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