1204 E Palmer St, Philadelphia, PA 19125

Property Description

Presenting an exceptional investment or owner-occupant opportunity in the heart of Fishtown. 1204 E Palmer Street is a well-crafted, three-unit mixed-use property built in 2017, offering a compelling combination of modern finishes, consistent tenant demand and strong rental income, with end-user flexibility under CMX-2 commercial mixed-use zoning allowances. The property features a bi-level commercial space on the ground floor, along with two well appointed residential efficiency apartments on the upper levels, each offering one bedroom and one bathroom. With its versatile layout, the commercial space offers a variety of potential uses, including boutique commercial or wellness services, or conversion to a residential apartment with a simple kitchen conversion. The two upper-level residential efficiency units feature oversized, front-facing Pella windows, inviting galley kitchens with quartz countertops, in-unit washers and dryers, and clean, modern finishes that create a comfortable, contemporary living environment. Historically, each residential unit has leased consistently with high demand, tenant requested lease extensions, and minimal owner vacancies! Located in the heart of booming Fishtown, this property offers an attractive combination of proven residential rental income, commercial leasing potential, and flexibility for an owner-occupant seeking to offset expenses with its revenue stream. Quality construction, versatile mixed-use potential, and a sought-after location make 1204 E Palmer Street a compelling opportunity in a market where well-positioned investment properties are limited in supply! Unit 1 - $1,800 (projected) per month Unit 2 - $1,365 per month Unit 3 - $1,300 per month Rent roll= $53,580 NOI = $42,500 CAP RATE = 7.00%