Investors looking for a stabilized, cash-flowing asset in one of West Philadelphia's most durable rental markets should take a close look at 4706 Cedar Ave. This fully occupied triplex generates $72,000 in gross annual rent against lean operating expenses, delivering a projected 7% cap rate on a self-managed basis (slightly lower with third-party management factored in).
Three one-bedroom units are leased at $1,900, $2,000, and $2,100 per month, with tenants responsible for their own gas and electric. Net operating income runs approximately $52,200 annually, and the property has a track record of minimal turnover, with new tenants signing quickly whenever a unit does become available.
For buyers deploying 1031 exchange proceeds, this is a turnkey asset that can begin producing income from day one without a renovation timeline eating into your exchange window. Exceptionally maintained in excellent condition, this twin/semi-detached Victorian offers 2,448 finished square feet across three levels.
Each unit has been renovated within the last decade. Updates include plumbing, electric, separate HVAC systems, in-unit laundry, and a fully equipped kitchen with dishwasher and built-in microwave, the kind of finishes that attract long-term, quality tenants.
Original character remains where it counts: stained glass windows, antique hardware, and ornate wood floors are preserved throughout, paired with updated fixtures and efficient forced-air heating and cooling. A full basement and shared backyard round out the property, giving tenants outdoor space that supports strong retention.
Situated on a tree-lined block in Cedar Park, the property sits within walking distance of Clark Park, Baltimore Avenue's restaurant and cafe corridor, Mariposa Food Co-op, and neighborhood staples like Green Line Cafe, Booker's Restaurant & Bar, Local 44, Dahlak, Kaffa Crossing, and Amari's.
Transit access via the 34 trolley and 42 bus puts University City and Center City within easy reach, a major draw for the steady pool of UPenn, Drexel, and CHOP-affiliated renters who anchor demand in this submarket. 4706 Cedar Ave combines the fundamentals investors look for: full occupancy, below-market operating costs, no deferred maintenance, and a location with consistently strong rental demand.
Whether you're a seasoned owner adding a low-maintenance asset to your portfolio, a first-time multifamily buyer, or an investor working against a 1031 exchange deadline, this property offers immediate cash flow with long-term upside in a neighborhood that continues to attract renters year after year.
