UPDATED:
Key Details
Property Type Multi-Family
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 3,876 sqft
Price per Sqft $612
MLS Listing ID PAPH2622626
Style Other
Abv Grd Liv Area 3,876
Year Built 2023
Annual Tax Amount $1,595
Tax Year 2025
Lot Size 1,615 Sqft
Acres 0.04
Lot Dimensions 17.00 x 95.00
Property Sub-Type Other
Source BRIGHT
Property Description
The unit mix caters to a broad tenant base, including students, young professionals, and roommate-style renters, resulting in strong leasing demand and operational stability. The asset benefits from a straightforward layout, consistent unit configuration, and efficient property management. The property is in year 1 of the full 10-year tax abatement.
At the asking price of $2,375,000, the asset delivers an inplace Net Operating Income of approximately $168,566, equating to a 7.10% cap rate, with the ability to achieve a stabilized NOI of approximately $185,250 (7.80% cap) through mark-to-market leasing.
Investment Highlights
*12-Unit Multifamily Asset
*7.10% In-Place Cap Rate
*7.80% Stabilized Cap Rate
*Average Unit Size: 750 SF
*Below-Market Rents with Immediate Upside
*Total Rentable SF: 9,000 SF
*Average Rent: $1,562 vs. $1,691 Market
*10-year Tax Abatement
*In-Place NOI: $168,566
*Stabilized NOI: $185,250
*Strong In-Place Cash Flow with Value-Add Potential
Location
State PA
County Philadelphia
Area 19104 (19104)
Zoning RM1
Interior
Hot Water Other
Heating Other
Cooling Central A/C
Fireplace N
Heat Source Natural Gas
Exterior
Water Access N
Accessibility Other
Garage N
Building
Above Ground Finished SqFt 3876
Sewer Other
Water Other
Architectural Style Other
Additional Building Above Grade, Below Grade
New Construction N
Schools
School District Philadelphia City
Others
Tax ID 062097800
Ownership Fee Simple
SqFt Source 3876
Special Listing Condition Standard
Nearby Locations
Our passion for real estate and love for New Jersey are a perfect match. We have made it our mission to help local residents sell their homes quickly and at the best possible prices, and homebuyers in finding their perfect piece of paradise in New Jersey.
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- Ocean County, NJ
- Middlesex County, NJ
- Essex County, NJ
- Sussex County, NJ
- Passaic County, NJ
- Bergen County, NJ
- Warren County, NJ
- Morris County, NJ
- Essex County, NJ
- Hunterdon County, NJ
- Somerset County, NJ
- Union County, NJ
- Middlesex County, NJ
- Mercer County, NJ
- Monmouth County, NJ
- Burlington County, NJ
- Camden County, NJ
- Gloucester County, NJ
- Salem County, NJ
- Cumberland County, NJ
- Atlantic County, NJ
- Philadelphia County, PA
- Bucks County, PA
- Montgomery County, PA
- Delaware County, PA
- Chester County, PA
- Berks County, PA
- Lehigh County, PA
- Northampton County, PA
- Monroe County, PA