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Listed by ERIC Dvotsky • BHHS Fox & Roach-Center City Walnut
$ 1,980,000
Est. payment | /mo
2,718 Sqft Lot
$ 1,980,000
Est. payment | /mo
2,718 Sqft Lot
Key Details
Property Type Commercial
Sub Type Five Or More Units
Listing Status Active
Purchase Type For Sale
Subdivision Temple University
MLS Listing ID PAPH2611114
Year Built 2023
Annual Tax Amount $1,408
Tax Year 2025
Lot Size 2,718 Sqft
Acres 0.06
Lot Dimensions 18.00 x 151.00
Property Sub-Type Five Or More Units
Source BRIGHT
Property Description
Philly CRE is pleased to present a premier investment opportunity: a fully occupied, 11-unit mixed-use property built in 2023, ideally located just steps from Temple University's main campus. Already priced to sell, this asset offers immediate financing upside with a 1.28 DSCR and an exceptional 7.44% cap rate, a rare offering for new construction in today's market. The property generates $184,860 in annual gross income, delivering strong and stable in-place cash flow with additional upside potential in a rapidly appreciating submarket. Consistent rental demand is driven by its proximity to both Temple University and Temple University Hospital, attracting a reliable tenant base of students and healthcare professionals. All residential units are leased to PHA tenants with rents secured, providing predictable and low-risk income from day one. The unit mix includes one studio, eight one-bedroom units, and one two-bedroom unit, along with a ground-floor commercial space, creating a diversified and resilient income stream. The property benefits from a ten-year tax abatement with over six years remaining, significantly reducing operating expenses and enhancing overall returns. It has also recently passed reinspection, offering added confidence in the property's condition and compliance. Built with high-end finishes, each unit features spacious layouts, large bedrooms, and select private balconies that enhance tenant appeal and retention. All units are separately metered and equipped with individual mechanical systems, as well as a unit washer and dryer, minimizing landlord responsibilities and maximizing operational efficiency. As an added incentive, the offering includes one year of free property management, providing immediate operational support and increased net income for investors. Conveniently located near the Broad Street Line and multiple bus routes, the property offers excellent accessibility throughout Philadelphia. Its location within a Qualified Opportunity Zone may also provide additional tax advantages. With high stabilized income, attractive financing metrics, minimal maintenance requirements, and long-term upside, this is a rare opportunity to acquire a high-performing asset in one of Philadelphia's most active and supply-constrained rental corridors. Take advantage of this exceptional opportunity to secure a turnkey, high-yielding investment with built-in management support and long-term growth potential.
Location
State PA
County Philadelphia
Area 19132 (19132)
Zoning CMX 2.5
Interior
Hot Water Electric
Heating Forced Air
Cooling Central A/C
Heat Source Electric
Exterior
Water Access N
Accessibility None
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Philadelphia City
Others
Tax ID 885438820
Ownership Fee Simple
Special Listing Condition Standard
NEARBY SCHOOL & BUSINESS