MLS#PAPH2646596
STATUSACTIVE
PROPERTY TYPECommercial -
SUBDIVISIONOLDE KENSINGTON
SCHOOLPHILADELPHIA CITY
Property Description
Excellent opportunity to purchase a mixed-use multi-family property in the heart of rapidly appreciating Olde Kensington. This fully leased, income producing, CMX2.5 building offers three residential units over one commercial space. The property currently generates $4,825/month ($57,900/year), with low operating expenses and exceptionally low annual taxes of just $3,002 (2026). Originally purchased from an owner-occupant with a rental license for one rental unit over retail space, the property has since undergone a significant legal conversion and improvement process. The building was formally and legally converted to three residential units over one retail space to reflect the accurate configuration of the property. The permitting and inspection process was managed through the Philadelphia Bureau of Building Standards. The building had previously been refreshed in 2019, including updated kitchens, bathrooms and flooring. Most recently, 2026 updates include a brand new asphalt roof, hot water heater, washer/dryer, and 6 new windows. This fully leased property offers a rare combination of income-producing use, updated condition, documented compliance work, and the possibility of long-term upside in one of Philadelphia’s most active growth corridors. Surrounded by continued development, new construction, restaurants, popular retail, and a short walk to public transportation (the Berks Street El stop is only a few blocks east!) - it is an investors dream. With its updated licensing, Certificate of Occupancy, and desirable mixed-use configuration, this is a compelling opportunity for buyers seeking both current cash flow and future appreciation. Buyer is responsible for independently verifying lot size, taxes, zoning, permitted uses, rental licensing, Certificate of Occupancy, and any egress/ingress requirements. Current licensing documents and rent roll available for review upon request by qualified buyers. Photos shown are of unit 1 (the smallest studio layout in building). All residential units have similar level of finishes and are all studios.
Property Features
Property Type: Commercial -
Basement: Yes
Cooling: Window Unit(s)
Fuel Type: Electric
Heating: Forced Air
Lot Size: 0.03 Acres
Roof Type: Asphalt
Taxes: $3,002
Year Built: 1925
Feature Descriptions
Days on Site: 6
Exterior: Masonry
Lot Dimensions: 0.03 Acre(S)
Municipality: PHILADELPHIA
Sewer: Public Sewer
Total Garage/Parking Spaces: 0
Units: 4
Water: Public
Local Schools
School District: PHILADELPHIA CITY
Listed By / Shown By
Listed By
Agency Name: Compass Pennsylvania, LLC
Agency Phone: 6108223356
Shown By
Agency Title: RealtyMark
Agency Phone: 888-260-0040
1904 N 2nd Street | MLS# PAPH2646596
This commercial property located at 1904 N 2nd Street , Philadelphia, PA 19122 is currently listed for sale with an asking price of $599,000. N 2nd Street is located within the PHILADELPHIA CITY school district. Search Philadelphia real estate on www.realtymark.net today.