Welcome to 3053 N 8th Street, a fully renovated and legally zoned RM-1 multifamily duplex offering investors the opportunity to acquire a turnkey, income-producing asset in one of Philadelphia's evolving rental markets. With approximately 1,400 square feet, this two-unit property features a 2-bedroom, 2-full-bathroom first-floor unit and a 2-bedroom, 1-full-bathroom second-floor unit, creating highly desirable layouts that continue to attract strong tenant demand.
Each unit has been thoughtfully renovated with finishes designed to appeal to today's tenants while providing long-term durability and peace of mind for investors. Recent improvements include brand-new plumbing, updated electrical systems, new HVAC components, central air conditioning, forced-air heating, brand-new windows, luxury vinyl flooring throughout, stainless steel GE appliances, and in-unit stainless steel GE washers and dryers. The highly desirable two-bedroom, two-bathroom floor plan offers exceptional flexibility for roommates, young professionals, couples, and small households, while the additional full bathroom in each unit creates a significant advantage compared to many competing rental properties in the surrounding area.
For investors, the greatest advantage is that the income is already in place. Both units are leased beginning September 1, generating approximately $2,849 in monthly rental income, or $34,188 annually. Combined with annual property taxes of approximately $1,300, the property presents a compelling investment opportunity with strong operating fundamentals. Based on current rental income and estimated operating expenses, investors may achieve an estimated capitalization rate of approximately 8.5% to 9.0%. Additional financial analysis, including NOI projections, cash-on-cash return scenarios, investment assumptions, and a detailed financial summary, is available through the listing agent.
Location further strengthens the investment story. The property is located just a five-minute walk from Broad Street, providing convenient access to one of Philadelphia's primary transportation corridors. Nearby amenities include the Lillian Marrero Library, Rivera Recreation Center, and 12th & Cambria Recreation Center, while Potter-Thomas Elementary School and Clymer Elementary School are only a few blocks away. Popular neighborhood destinations, including Romano's Pizza Express and El Tripletazo, are within walking distance, while nearby SEPTA bus routes at 6th Street & Cambria Street, 6th Street & Clearfield Street, and Germantown Avenue & Somerset Street provide additional transportation options throughout the city.
Whether you're expanding an existing portfolio, completing a 1031 exchange, or acquiring your first multifamily investment, 3053 N 8th Street delivers the features investors value most: existing leases, immediate rental income, modern renovations, in-unit laundry, central air, low property taxes, and a highly desirable two-bedroom, two-bathroom configuration in each unit.
Turnkey, renovated, fully leased, and generating income from day one. Contact the listing agent for a complete investment analysis and additional property financials.
