3,876 SqFt
3,876 SqFt
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
GET MORE INFORMATION