2518 Memphis St, PHILADELPHIA, PA

About 2518 Memphis St

Rare opportunity in red-hot Fishtown/Kensington area. This unique package deal at 2518 and 2520 Memphis Street features two turnkey rental units that have been established as a duplex since the 1980s by a longtime owner. Unit 2518 is a large 1-bedroom, 1-bathroom first-floor apartment, while Unit 2520 offers a spacious 2-bedroom, 1-bathroom layout on the second floor. Both units have been updated over the last few years and are ready to generate immediate income. Savvy investors will recognize the massive value-add potential to make minor improvements and warrant significantly higher market rents. The property features separate PECO and PGW utility meters for easy tenant management, with one shared water service located at 2518. The basement houses the building mechanicals and is easily accessible from a private exterior entrance on Firth Street. Location is everything, and this property delivers. Tenants will love being just steps away from local favorites like Meetinghouse and Cook + Shaker, and just a short stroll from the vibrant Frankford Avenue corridor. Commuters are just 10 minutes from Center City and have rapid access to I-95. Both units must be sold together. The property is being sold in strictly "as-is" condition, and the seller will not accept any zoning contingencies. The price for each parcel is 175k, NOT FOR BOTH PARCELS

Listing Map