1720 Wallace Street

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.