The Hadley Group

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. 1520 N 17th St – A Historic Mansion with High-Value Amenities This 10-bedroom, 4.5-bath Furness-designed home has historically been a preferred rental for Temple University fraternal associations, with unwavering demand for a house of this size and character. It currently rents for $6,250/month ($75,000/year) and boasts features that make it a standout choice for university renters, including: An amazing deck, perfect for social gatherings. A huge basement, offering additional space for storage or recreation. A spacious back patio, a rare find in the area and highly attractive to tenants. Grand architectural details, including intricate woodwork and an impressive staircase. With RM-1 zoning allowing for a quadplex conversion by right, this property offers multiple avenues for increased income and equity growth. 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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