5013 Chester Ave, Philadelphia, PA 19143

Description

PRICE DRASTICALLY REDUCED TO $549,900 for a legally zoned 3-unit asset with a finished basement in University City! The listing has been revised to reflect that the property is officially zoned as a legal 3-unit building, featuring 3 legal 2-bedroom apartments that are fully leased, plus a fully finished basement that offers an incredible, expansive extra space for the new buyer to utilize or manage.
Here is the updated BRIGHT MLS public remarks description tailored to reflect the legal 3-unit zoning, the 2-bedroom layouts, the finished basement, and the early 2026 upgrades:
BRIGHT MLS Public Remarks:
PRICE REDUCED BY OVER $250K—NOW ONLY $549,900! LEGALLY ZONED 3-UNIT CASH COW WITH FINISHED BASEMENT SPACE!
Attention savvy investors and house-hackers: this is the value play of the year. Appraised at over $720,000 just a few years ago, this massive twin corner property is now priced for an immediate sale. The property is officially zoned as a legal 3-unit building, featuring three legal 2-bedroom apartments that are completely turnkey and fully leased, guaranteeing an immediate, stable stream of income from day one.
As a massive bonus, the property features a fully finished basement that provides an incredible footprint of extra space for the new buyer—perfect for an owner-user, a private office, or extra managed storage. Landlord oversight is entirely stress-free: all utilities are fully separated with independent electric and water meters, and every apartment features its own independent forced-air central heating and A/C systems, putting the utility responsibility entirely on the tenants.
2026 PREMIUM UPGRADES & PROPERTY FEATURES:
• 2026 Rear Lot Expansion: Freshly updated at the start of 2026, the massive rear yard offers premium extra space. Utilize it as a private recreational oasis, high-demand off-street parking, or build out a private garage to generate an additional monthly revenue stream!
• Turnkey Infrastructure: Features independent central HVAC systems, clean new professional concrete surrounding the entire exterior, an automated security floodlight system, and full compliance with the Philadelphia Fire Code.
• Capital Improvement Peace of Mind: Old-growth plumbing worries are gone with a newly installed 5-inch main sewer line, backed by a 100-year corrosion warranty.
Perfectly positioned on a highly visible corner in high-demand University City, tenants enjoy immediate access to the Route 13 Trolley and Regional Rail. Located just minutes from the region's premier universities and hospital networks, this location ensures a permanent pool of high-quality professional and student applicants.
FINANCING PATHWAYS & INCENTIVES:
• Owner-Occupants: Capitalize on massive leverage! Live in the finished basement space or an apartment and let the leased units pay your entire mortgage. FHA eligible (3.5% down) and Conventional (5% down), plus local $3,000 and $7,500 grant eligibility.
• Portfolio Investors: Take advantage of flexible financing including Rent-Only Verification (DSCR) loans, 20% down options, LLC purchasing flexibility, and competitive interest-only programs.
A legally zoned 3-unit building with separate HVAC, separate meters, and a finished basement under $550K in University City is a rare find. Schedule your tour today before this unmatched value play is gone!
Disclaimer: All information, measurements, and representations are approximate and not guaranteed. Buyer and Buyer's Agent must independently verify all information, including but not limited to square footage, room sizes, taxes, zoning details, and property features.