1206 E Palmer St, Philadelphia, PA 19125

Property Description

Presenting an exceptional investment or owner-occupant opportunity in the heart of Fishtown. 1206 E Palmer Street is a well-crafted, three-unit mixed-use property built in 2017, offering a compelling combination of modern finishes, consistent tenant demand and with strong rental income, and flexibility under CMX-2 commercial mixed-use zoning. The property features a bi-level commercial space on the ground floor, along with two residential apartments on the upper levels, each offering two bedrooms and one bathroom. The versatile commercial space includes a lower-level kitchen, two full bathrooms, a private rear patio, and an in-unit washer and dryer. With its flexible layout, the space offers a variety of potential uses, including boutique commercial or wellness services, or conversion to a residential apartment. The former spa and wellness tenant has recently vacated, providing buyers the opportunity to take possession of the commercial space vacant or explore occupancy arrangements (subject to buyer preferences). The two upper-level residential units feature oversized, front-facing Pella windows, inviting kitchens with quartz countertops, in-unit washers and dryers, and clean, modern finishes that create a comfortable, contemporary living environment. Located in the heart of booming Fishtown, this property offers an attractive combination of proven residential rental income, commercial leasing potential, and flexibility for an owner-occupant seeking to offset expenses with its revenue stream. Quality construction, versatile mixed-use potential, and a sought-after location make 1206 E Palmer Street a compelling opportunity in a market where well-positioned investment properties remain limited in demand. A must-see for investors and owner-occupants alike! Unit 1 - $2,400 (projected) per month Unit 2 - $1,700 + $35 water per month Unit 3 - $1,700 + $35 water per month Rent roll= $70,440 NOI = $54,590 CAP RATE = 7.60%