652 N 38TH ST Active Save Request In-Person Tour Request Virtual Tour
Philadelphia,PA 19104
Key Details
Property Type Multi-Family
Sub Type Detached
Listing Status Active
Purchase Type For Sale
Square Footage 2,816 sqft
Price per Sqft $204
MLS Listing ID PAPH2539332
Style Contemporary
Abv Grd Liv Area 2,112
Year Built 2025
Annual Tax Amount $1,073
Tax Year 2024
Lot Size 912 Sqft
Acres 0.02
Lot Dimensions 16.00 x 57.00
Property Sub-Type Detached
Source BRIGHT
Property Description
This exceptional, high-yield new construction corner duplex at 652 N 38th St offers investors a turnkey asset that currently generates $4,525 per month in gross rental income, leading to an impressive 7%+ capitalization rate in the rapidly appreciating Mantua neighborhood. The property is fully rented and tenant-occupied, guaranteeing immediate cash flow and eliminating lease-up risk. Strategically designed for maximum rental income, the duplex features two desirable 3-bedroom, 3-bathroom units, each offering individual ensuite baths for every bedroom—a prime feature for high-demand student and professional renters near Drexel and UPenn. Premium finishes like engineered hardwood and quartz countertops ensure durability and appeal, while luxury amenities, including a private backyard for the lower unit and a private roofdeck for the upper unit, command premium rents. Furthermore, the investment is protected by a pending 10-year tax abatement to maximize net operating income, along with a 3-year roof warranty and a 1-year builder warranty, making this a stable and lucrative addition to any investment portfolio.
Location
State PA
County Philadelphia
Area 19104 (19104)
Zoning RM1
Rooms
Basement Fully Finished,Sump Pump
Interior
Interior Features Bathroom - Walk-In Shower,Kitchen - Eat-In,Kitchen - Island,Recessed Lighting,Sprinkler System,Bathroom - Tub Shower,Floor Plan - Open,Primary Bath(s),Bathroom - Stall Shower,Ceiling Fan(s),Combination Kitchen/Living
Hot Water Electric
Heating Central
Cooling Central A/C
Flooring Engineered Wood
Equipment Built-In Microwave,Dishwasher,Disposal,Exhaust Fan,Freezer,Icemaker,Microwave,Oven/Range - Electric,Refrigerator,Stainless Steel Appliances,Washer/Dryer Hookups Only,Water Dispenser
Fireplace N
Appliance Built-In Microwave,Dishwasher,Disposal,Exhaust Fan,Freezer,Icemaker,Microwave,Oven/Range - Electric,Refrigerator,Stainless Steel Appliances,Washer/Dryer Hookups Only,Water Dispenser
Heat Source Electric
Exterior
Exterior Feature Roof,Patio(s)
Water Access N
View City
Roof Type Fiberglass
Accessibility None
Porch Roof,Patio(s)
Garage N
Building
Lot Description Corner
Foundation Concrete Perimeter
Above Ground Finished SqFt 2112
Sewer Public Sewer
Water Public
Architectural Style Contemporary
Additional Building Above Grade,Below Grade
Structure Type High
New Construction Y
Schools
School District Philadelphia City
Others
Tax ID 242189400
Ownership Fee Simple
SqFt Source 2816
Acceptable Financing Cash,FHA,VA,Conventional
Listing Terms Cash,FHA,VA,Conventional
Financing Cash,FHA,VA,Conventional
Special Listing Condition Standard
Virtual Tour https://mls.homejab.com/property/view/652-n-38th-st-philadelphia-pa-19104-usa