DELCOLLO & SALVATORE TEAM

Description

Historic Twin Being Sold as a Package – 1520 & 1522 N 17th St – $1,424,900 A rare opportunity to own both sides of a historic Victorian Gothic twin designed by renowned Philadelphia architect Willis G. Hale! This package includes 1520 & 1522 N 17th St, two fully rented properties generating $134K in gross annual rent with a 6.75% cap rate. These homes are part of a distinctive row of high-Victorian residences built in the 1880s, known for their striking red-brick facades, bold stone foundations, ornate corbels, and dramatic mansard roofs—hallmarks of Hale’s flamboyant architectural style. The block has been recognized for its historical significance, with its original facades largely intact, offering a rare glimpse into Philadelphia’s architectural past. This investment offers multiple opportunities: Option 1: Restore the historic mansion at 1520 N 17th and live in a one-of-a-kind home while collecting rental income from the quadplex at 1522 N 17th. Option 2: Convert 1520 N 17th into a quadplex, which can be done by right under RM-1 zoning, further maximizing income potential. Option 3: Do nothing and start collecting rental income from both properties on day one. Both properties are within Temple University’s patrol zone, benefiting from strong rental demand and a decade-long track record of full occupancy. 1522 N 17th St – Income-Producing Quadplex with Additional Potential This fully leased multi-unit property generates $4,800/month ($57,600/year) in rental income and features a total of 12 bedrooms and 8 bathrooms across its five rented units: Unit B – Studio, rented for $550 Unit 1F – Spacious 1 bed, 1 bath, rented for $850 Unit 1R – Bi-level 2 bed, 2 bath, rented for $1,000 Unit 2 – Charming 4 bed, 2 bath, rented for $1,200 Unit 3 – Bright 4 bed, 2 bath, rented for $1,200 Though the property is zoned as a quadplex, its current layout provides flexibility for multiple rental configurations, making it a high-yield asset with strong demand from Temple students. A Unique Investment in Philadelphia Real Estate This is a once-in-a-lifetime chance to own both sides of a historic twin while securing a high-yield investment. Whether you restore, redevelop, or hold as-is, this package offers multiple paths to strong returns. Own a piece of Philadelphia’s architectural legacy while benefiting from a proven rental income stream in a rapidly evolving neighborhood. Don’t miss out on this prime investment opportunity!

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