1619 Elaine Street, Philadelphia, PA 19150

Property Description

Mortgage is Assumable! Turn-key duplex offering an exceptional opportunity for both investors and owner-occupants seeking immediate income potential with low-maintenance ownership. Fully renovated in 2022, this well-maintained property features modern kitchens with granite countertops, stainless steel appliances, luxury vinyl plank flooring, updated tile bathrooms, and fresh interior paint underway. Major capital improvements include a roof replacement completed in 2023 with a transferable warranty. Unit 1 is a tenant occupied and will be delivered vacant, unit features 1-bedroom, 1-bath. Unit 2 is an owner occupied 2 bed, 1 bath unit, presenting an ideal house-hack opportunity or the ability to lease both units for increased cash flow. Based on current market conditions, investors can project approximately $32,000-$36,000 in annual gross rental income. For investors utilizing the Housing Choice Voucher (Section 8) program, current payment standards for this area are approximately $1,420-$1,660 per month for comparable 1 and 2 bedroom units, offering additional income potential. Separate electric meters, basement storage, a shared laundry area, fenced outdoor space, a 2-car garage, and additional driveway parking provide convenience and functionality rarely found at this price point. Conveniently located within walking distance to public transportation, shopping, and dining, with quick access to Montgomery County and Arcadia University. Whether you're looking to expand your investment portfolio or offset your mortgage through rental income, this property offers a strong, move-in-ready opportunity with minimal deferred maintenance and immediate upside.

Property Features

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