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Listed by ERIC Dvotsky • BHHS Fox & Roach-Center City Walnut
$ 1,550,000
Est. payment | /mo
2,500 Sqft Lot
$ 1,550,000
Est. payment | /mo
2,500 Sqft Lot
Key Details
Property Type Commercial
Sub Type Five Or More Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID PAPH2601440
Year Built 2018
Annual Tax Amount $1,295
Tax Year 2025
Lot Size 2,500 Sqft
Acres 0.06
Property Sub-Type Five Or More Units
Source BRIGHT
Property Description
Philly CRE Advisors is pleased to present a strong, stabilized investment opportunity in one of Philadelphia's most active and rapidly transforming submarkets. Built in 2019, this modern six unit multifamily property combines durable new construction with reliable in place income, ideally positioned just steps from Temple University's main campus and minutes from the continued growth along North Broad Street, Fishtown, and Northern Liberties. The property is fully leased and professionally managed, offering a highly desirable unit mix that includes four two bedroom two bathroom units, one three bedroom three and a half bathroom unit, and one expansive four bedroom four bathroom residence with private backyard access. Each unit is thoughtfully designed with contemporary finishes, open concept layouts, and in unit laundry, catering to both Temple's student population and young professionals while supporting consistent occupancy and strong rental performance. Current rents remain below projected market levels, presenting a clear value add opportunity through lease turnover, renewals, and strategic rent increases. The asset currently generates approximately $140,580 in annual income with a projected pro forma of $145,800, all while maintaining an efficient expense ratio of approximately 23%. Additionally, there are approximately three years remaining on the original ten year tax abatement, providing meaningful near term expense savings and enhanced cash flow. From a broader market perspective, the location continues to benefit from Temple University's ongoing campus expansion, sustained redevelopment along the North Broad corridor, and the continued momentum of nearby Fishtown and Northern Liberties. This convergence has driven increased investor demand, rising rental rates, and long term appreciation across the surrounding neighborhoods. The property is also located within a Qualified Opportunity Zone, offering potential tax advantages for investors seeking to maximize after tax returns. As an added incentive, the offering includes one year of free property management, providing immediate operational support and increased net income for investors. Capitalize on this exceptional opportunity to acquire a turnkey, high-yield investment offering built-in management support and strong long-term growth potential.
Location
State PA
County Philadelphia
Area 19122 (19122)
Zoning RM1
Interior
Hot Water Electric
Heating Central
Cooling Central A/C
Heat Source Electric
Exterior
Water Access N
Accessibility None
Garage N
Building
Foundation Other
Sewer Public Sewer
Water Public
New Construction N
Schools
School District The School District Of Philadelphia
Others
Tax ID 881075909
Ownership Fee Simple
Special Listing Condition Standard
Nearby Locations