5000 Florence Ave, Philadelphia, PA 19143

$589,000
: 2,550
SqFt

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List Price: $589,000
Price Change: ▼ $10,000 1776205568
Days on Market: 305
Status: ACTIVE
MLS#: PAPH2540486
Living Area: 2,550
Lot Size (Acres): 0.05
Style: Traditional
Year Built: 1925
County: Philadelphia
School District: Philadelphia City

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Property Description

TriPlex. Seller Assist Available with approved offer. As a 1st time homeowner looking to house hack or a seasoned investor 5000 Florence Ave is ideal. Complete with a two-car garage that is perfectly suited for a future roof deck addition. With RM-1 zoning, the property allows for expansion of up to five units by right, offering a rare and valuable opportunity for both developers and investors. Currently the 3 units are rented under market value two -2bed/1bath and one 1bed/1bath bringing in $48,000 annually. The home features a walk-out basement with shared laundry facilities and side yard garden, fire pit, and seating—ideal for entertaining on cozy fall nights. The building was owner occupied for more than 15 years always with a history of strong rental performance. Current rents remain under market, creating immediate upside for increased returns. Offered in As-Is condition, the property provides a blank canvas for repositioning, expansion, and long-term growth. Easy walking distance to UPenn and Drexel Universities as well as the Baltimore Avenue favorites like Carbon Copy, Mariposa C0-Op Grocery and Clark Park. Whether your goal is to elevate rental income or expand the building to maximize its potential, this triplex presents a rare chance to secure an asset in a highly desirable location. Don’t miss the opportunity to transform this property into a premier investment with exceptional promise.

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