3670-72 Indian Queen Lane

Description

Move-in-ready quadruplex in highly desirable East Falls with three off-street parking spaces - an ideal opportunity for investors or owner-occupants seeking renovated living space plus strong rental income returns. All units are currently vacant and ready for lease. Based on prior rents, the property offers an estimated 8.5% capitalization rate, with potential additional upside as the recent rents were below market. Great location! Minutes to the East Falls train station, Schuylkill River Trail, Thomas Jefferson University, popular restaurants including Fiorino Italian BYO, the local farmers market, and the Fallser Club for Performing Arts, plus easy access to major highways. Unit A (main level) is a fully renovated 2-bedroom, 2-bath residence previously owner-occupied and thoughtfully upgraded with oak hardwood floors, Andersen windows, mini-split A/Cs, a modern kitchen with stainless steel appliances and granite countertops, walk-in showers, in-unit washer/dryer, and direct access to the fully fenced backyard and full unfinished basement. This unit is accessible from the porch or directly from the parking area (with no stairs) and is estimated to rent for $1,900–$2,100. Units B, C, and D are accessed through a spacious vestibule with a plumbed washer/dryer hookup. Unit B: 1 bedroom with a newly updated kitchen, large bedroom with two closets, separate living room, and en-suite bathroom. (Previously rented at $1,250). Unit C: 2 bedrooms (one en-suite), 1 bath, and a large living room. (Previously rented at $1,300). Unit D: Third-floor 1 bedroom featuring an oversized bedroom, sitting area, living/dining space, and efficient kitchen. (Previously rented at $1,050). Units B and C share a west-facing hallway balcony with river views. Major recent improvements include a new roof, flashing, and exterior paint (within the past three years), full rewiring of Unit A, and new electrical panels in Units B, C, and D. All units have lead-free and fire alarm certifications. A turnkey multifamily property in a prime East Falls location with strong income potential and long-term upside.