2339 N 17th St. – Philadelphia

Hey Investors,

This Light-condition triplex in North Philadelphia West is a turnkey buy-and-hold opportunity with minimal rehab needed and immediate rental income from a current tenant. With three units at 2,064 total sqft, the property is well-positioned to generate strong cash flow with only cosmetic upgrades (paint, molding, flooring) required to stabilize rents at market rate.

Strategy: Buy & Hold | Type: Triplex | Specs: 4 BR / 4 BA | 2,064 SQFT | Year Built: 1915 | Zoning: RSA5 | Occupancy: Tenant | Condition: Light (Paint | Molding | Flooring)

The Money & ARV:
* Target Rent: $1,500 – $1,700/mo per unit (~$4,500–$5,100/mo gross)
* Est. Rehab: $41,280 (2,064 sqft × $20 Light — Light rehab tier)
* Realistic ARV: $350,000 (Anchored by 1512 W Glenwood Ave / 2334 N Carlisle St MF comps)
* Aggressive ARV: $425,000 (Top-tier MF renovation potential — see 1926 W Diamond St)

Why this deal?
North Philadelphia West continues to attract rental demand from working families and young professionals, and a stabilized triplex at current market rents can support a gross rent of $4,500–$5,100/month — roughly a 15–17% gross yield on the $351,000 as-is basis. The Light condition means an investor can be cash-flow positive almost immediately with a sub-$42K rehab. MF comparables within 1.0 mile range from $110K (distressed) to $485K (renovated 3-unit), confirming the strong upside for a well-maintained income property. This is a stabilized rental hold — not a flip — and the existing tenant provides day-one income.

PROPERTY COMPARABLES (SOLD LAST 6 MONTHS) — City | Strategy: Buy & Hold | Radius: 1.0 mi (MF class)

Renovated / High-End Closed Sales
– 2020 N 18th St, Philadelphia, PA 19121 (0.28 mi) — Sold $485,000 | 6BD | 3,000 sqft | $162 PPSF | MULTI_FAMILY | 03/17/26
– 1926 W Diamond St, Philadelphia, PA 19121 (0.40 mi) — Sold $425,000 | 6BD | 2,424 sqft | $175 PPSF | MULTI_FAMILY | 03/24/26
– 2246 N 12th St, Philadelphia, PA 19133 (0.49 mi) — Sold $475,000 | 8BD/4BA | 2,555 sqft | $186 PPSF | MULTI_FAMILY | 04/13/26

Mid-Tier & Value-Add Closed Sales
– 2130 N 19th St, Philadelphia, PA 19121 (0.28 mi) — Sold $293,000 | 9BD/3BA | 2,400 sqft | $122 PPSF | MULTI_FAMILY | 03/10/26
– 2334 N Carlisle St, Philadelphia, PA 19132 (0.34 mi) — Sold $242,500 | 4BD | 1,260 sqft | $192 PPSF | MULTI_FAMILY | 03/31/26
– 1512 W Glenwood Ave, Philadelphia, PA 19132 (0.45 mi) — Sold $110,000 | 3BD | 1,986 sqft | $55 PPSF | MULTI_FAMILY | 04/15/26

Fixer / Shell Closed Sales (Low-Tier)
– 1411 W York St, Philadelphia, PA 19132 (0.37 mi) — Sold $299,000 | — | 3,708 sqft | $81 PPSF | MULTI_FAMILY | 02/27/26
– 2456 N 19th St, Philadelphia, PA 19132 (0.16 mi) — Sold $121,500 | 4BD | 2,053 sqft | $59 PPSF | MULTI_FAMILY | 05/05/26
– 1324 W Cumberland St, Philadelphia, PA 19132 (0.40 mi) — Sold $195,000 | — | 2,615 sqft | $75 PPSF | MULTI_FAMILY | 02/17/26