2012 Watkins Street, Philadelphia, PA 19145

Welcome to 2012 Watkins Street, a completely gut-renovated South Philadelphia home combining modern finishes, flexible living space, existing rental income, and an outstanding location within walking distance of East Passyunk Avenue. Extensively renovated from top to bottom in 2022, the property… Show more offers buyers the advantage of a recently completed renovation without the time, cost, and uncertainty associated with taking on a major construction project. The home features two bedrooms above grade, two ... Welcome to 2012 Watkins Street, a completely gut-renovated South Philadelphia home combining modern finishes, flexible living space, existing rental income, and an outstanding location within walking distance of East Passyunk Avenue. Extensively renovated from top to bottom in 2022, the property offers buyers the advantage of a recently completed renovation without the time, cost, and uncertainty associated with taking on a major construction project. The home features two bedrooms above grade, two full bathrooms, and an additional finished room on the lower level currently configured as a third bedroom, creating a versatile layout with significantly more usable space than a traditional two-bedroom South Philadelphia rowhome. The 2022 renovation created a clean, contemporary interior designed around both everyday functionality and modern city living. The main living level provides an inviting space for relaxing and entertaining, flowing into an updated kitchen featuring stainless steel appliances, modern cabinetry, updated countertops, and contemporary finishes. The home's updated flooring, lighting, bathrooms, fixtures, and finishes carry the renovated feel throughout the property. Upstairs are the home's two traditional above-grade bedrooms along with a renovated full bathroom, while the finished lower level adds another dimension to the floor plan. With an additional finished room and full bathroom downstairs, this level can function as a guest suite, home office, workout space, media room, or additional living area depending on the needs of the next owner. The property presents a unique opportunity for both investors and buyers planning for future owner occupancy. 2012 Watkins Street is currently tenant occupied at $2,210 per month, providing $26,520 in annual gross rental income, with the existing lease running through July 31, 2027. An investor can acquire a renovated, income-producing property with rental income already in place, while a first-time or future owner-occupant can secure a completely renovated South Philadelphia home and benefit from the existing rental income during the current lease term before potentially making the property their own in the future. The property is being sold subject to the existing lease, and buyers should review all lease and occupancy terms as part of their due diligence. A complete investment analysis, including estimated NOI, capitalization rate, financing scenarios, and cash-on-cash projections, is available through the listing agent. The location adds another major advantage. Residents are approximately a two-minute walk from neighborhood favorites including SouthHouse, Watkins Drinkery, and El Mictlan Restaurant, placing dining and neighborhood nightlife just steps from the front door. Approximately an eight-minute walk brings you to East Passyunk Avenue, one of South Philadelphia's most popular dining, shopping, and neighborhood corridors. Nearby destinations include Noir Restaurant & Bar, Gabriella's Vietnam, Le Virtù, Stogie Joe's Tavern, Stargazy, Mr. Martino's Trattoria, and River Twice, along with the many additional restaurants, cafés, shops, bars, and local businesses that make the surrounding neighborhood such a desirable place to live. Completely gut renovated in 2022, currently generating $2,210 per month in rental income, offering two bedrooms above grade plus flexible finished lower-level living space, two full bathrooms, stainless steel appliances, and a highly walkable South Philadelphia location just minutes from East Passyunk Avenue, 2012 Watkins Street offers a compelling combination of condition, income, flexibility, and long-term value. Contact the listing agent for lease information, the complete investment analysis, and additional property financials. Continue Reading