1642 SOUTH ST, Philadelphia, PA 19146

• 3,785 sqft

Property Description

Positioned on a prime corner of one of the city’s most vibrant corridors, 1642 South Street represents a rare chance to acquire a high-performing, fully occupied asset. This isn’t just a building; it’s a turnkey addition to any portfolio where you can start collecting rent on day one. The property features two expansive 2-bedroom, 2-bathroom apartments that feel incredibly airy and bright. Thanks to the corner orientation, oversized windows to the north and east flood the living spaces with natural light, creating a sense of volume and warmth that is hard to find in urban rentals. These units offer the kind of scale and layout that keeps occupancy high and turnover low. Anchoring the building is a thriving commercial space occupied by a long-term triple net (NNN) tenant. With a recently signed five-year renewal and an additional five-year option on the table, the ground floor provides the kind of stability and hands-off management investors crave. This is an investor’s dream defined by immediate cash flow, significant upside, and a location that continues to see incredible momentum. Between the steady commercial income and the high-demand residential units, the value proposition here is undeniable. Don’t miss this opportunity to own this great building.

Listing Status:

Active

Date Added:

August 21, 2026

Data Last Updated:

September 24, 2026 at 7:17AM

Listing Office:

Compass Pennsylvania, LLC : 2674358015

Listing Agent:

Matthew Ostroff : 2159012141

MLS ID:

PAPH2657594

Interior

• Appliances: Washer/Dryer StackedOven/Range - GasDishwasherBuilt-In MicrowaveRefrigeratorFreezerWaterHeater
• Basement: Sump pumpPoured concreteRough bath plumbOutside entrance
• A/C: Central A/C
• Heating: Forced AirNatural Gas
• Disability Feature: None

Exterior

• General: Above GradeBelow Grade
• Style: Contemporary

Construction

• Roofing: RubberFiberglass
• General: MasonryConcrete Perimeter

Location

• Originating MLS: BRIGHT_MAIN
• School District: PHILADELPHIA CITY
• County: PHILADELPHIA-PA

Lot

• Zoning: CMX2871135150

Utilities

• Water: Public
• Sewer: Public Sewer

Financial

• Source: BRIGHT_MAIN