2,775 Sqft Lot
2,775 Sqft Lot
Key Details
Property Type Commercial
Sub Type Five Or More Units
Listing Status Coming Soon
Purchase Type For Sale
MLS Listing ID PAPH2569690
Year Built 2023
Available Date 2026-01-05
Annual Tax Amount $178
Tax Year 2021
Lot Size 2,775 Sqft
Acres 0.06
Property Sub-Type Five Or More Units
Source BRIGHT
Property Description
RARE OPPORTUNITY TO ACQUIRE A MODERN, HIGH-QUALITY NEW CONSTRUCTION MULTIFAMILY ASSET DELIVERING STRONG IMMEDIATE CASH FLOW AND LONG-TERM UPSIDE. THIS 2-YEAR-OLD, 15-UNIT BUILDING IS APPROXIMATELY 90% LEASED WITH 13 UNITS CURRENTLY RENTED, PROVIDING STABLE AND CONSISTENT INCOME FROM DAY ONE.
THE PROPERTY BENEFITS FROM A 10-YEAR TAX ABATEMENT WITH APPROXIMATELY $2,750 IN ANNUAL REAL ESTATE TAXES, SIGNIFICANTLY REDUCING OPERATING EXPENSES AND ENHANCING NET CASH FLOW. THE BUILDING FEATURES A DESIRABLE UNIT MIX OF STUDIOS, ONE-BEDROOM, AND TWO-BEDROOM APARTMENTS WITH HIGH-END FINISHES THROUGHOUT, INCLUDING QUARTZ COUNTERTOPS, STAINLESS STEEL APPLIANCES, CUSTOM TILE BATHS, AND IN-UNIT LAUNDRY.
ADDITIONAL FEATURES INCLUDE ENERGY-EFFICIENT SYSTEMS, FULL SPRINKLER SYSTEM, SEPARATE UTILITIES, SECURE ENTRY, AND CAMERA SYSTEMS, RESULTING IN LOW MAINTENANCE AND MINIMAL NEAR-TERM CAPITAL EXPENDITURES. STRONG RENTAL DEMAND SUPPORTS TOP-OF-MARKET RENTS WITH POTENTIAL FOR FUTURE RENT GROWTH AND APPRECIATION.
LOCATED IN A RAPIDLY DEVELOPING, HIGH-DEMAND RENTAL AREA SURROUNDED BY NEW CONSTRUCTION, UNIVERSITIES, MAJOR EMPLOYERS, AND PUBLIC TRANSPORTATION, THIS ASSET OFFERS BOTH IMMEDIATE INCOME AND LONG-TERM VALUE CREATION. IDEAL FOR 1031 EXCHANGE BUYERS, PORTFOLIO EXPANSION, OR INVESTORS SEEKING A STABILIZED, TURN-KEY MULTIFAMILY OPPORTUNITY.
Location
State PA
County Philadelphia
Area 19121 (19121)
Zoning RM1
Interior
Hot Water 60+ Gallon Tank
Cooling Central A/C
Heat Source Electric
Exterior
Water Access N
Accessibility None
Garage N
Building
Sewer Public Sewer
Water Public
New Construction Y
Schools
School District The School District Of Philadelphia
Others
Tax ID 322095600
Ownership Fee Simple
Acceptable Financing Conventional, Cash, Other
Listing Terms Conventional, Cash, Other
Financing Conventional,Cash,Other
Special Listing Condition Standard
Virtual Tour https://vimeo.com/1142104193?share=copy&fl=sv&fe=ci
