1649 ALLENGROVE ST, Philadelphia, PA 19124

• 1,344 sqft

Property Description

Investor opportunity in the heart of Frankford. This fully leased triplex delivers strong in-place cash flow with an estimated 8.85% cap rate, making it a solid addition to an income-focused portfolio. The property features two 1-bedroom/1-bath units and one studio, all currently occupied with leases in place. Current rents are as follows: Unit #1 rents for $1,050/month with a lease through 12/11/26; Unit #2F rents for $775/month with a lease through 1/31/27; and Unit #2R is a studio renting for $650/month with a lease through 1/31/27. Long-term leases provide stable cash flow with limited near-term turnover. Located just steps from Jefferson Frankford Hospital and the Market-Frankford Line, the property benefits from consistent rental demand and excellent accessibility to public transportation, shopping, dining, and neighborhood amenities. A turnkey, income-producing asset in a well-connected Philadelphia location.

Listing Status:

Active

Data Last Updated:

May 2, 2026 at 10:19PM

Listing Office:

EXP Realty, LLC : 8883977352

Listing Agent:

Lay Gauv : 2672596034

MLS ID:

PAPH2581706

Interior

• Basement: Full
• A/C: Window Unit(s)
• Heating: 90% Forced AirNatural GasElectric
• Disability Feature: None

Exterior

• General: Above GradeBelow Grade
• Style: Other

Construction

• General: MasonryBlock

Location

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

Lot

• Zoning: RM1232218100

Utilities

• Water: Public
• Sewer: Public Sewer

Financial

• Source: BRIGHT_MAIN