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Listed by ERIC Dvotsky • BHHS Fox & Roach-Center City Walnut
$ 998,000
Est. payment | /mo
1,252 Sqft Lot
$ 998,000
Est. payment | /mo
1,252 Sqft Lot
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Subdivision Cedar Park
MLS Listing ID PAPH2669072
Year Built 2022
Annual Tax Amount $6,299
Tax Year 2025
Lot Size 1,252 Sqft
Acres 0.03
Lot Dimensions 18.00 x 74.00
Property Sub-Type Mixed Use
Source BRIGHT
Property Description
Philly CRE Advisors proudly presents 5047 Baltimore Ave, a newer-construction mixed-use investment asset located in the rapidly expanding University City corridor of West Philadelphia. Built in 2019, the property offers investors a stabilized, low-maintenance opportunity with strong in-place income, below-market rents, and meaningful upside through future lease renewals. The property consists of four units, including one ground-floor commercial space and three residential units: a spacious 2-bedroom / 2-bathroom residence and two oversized 3-bedroom / 2-bathroom units. The commercial unit is leased at $1,250 per month through September 1, 2027. The 2-bedroom / 2-bathroom unit is leased at $1,700 per month through February 1, 2027, while the two 3-bedroom / 2-bathroom units are leased at $2,100 per month through May 1, 2027 and $1,750 per month through June 1, 2027. Current in-place rent totals approximately $6,800 per month, or $81,600 annually, while projected market rents total approximately $7,450 per month, creating roughly $7,800 in annual rental upside as leases mature. Each residential unit features modern finishes, spacious layouts, stainless steel appliances, granite countertops, in-unit washer and dryer, recessed lighting, and excellent natural light. Strategically located near Drexel University, the University of Pennsylvania, CHOP, HUP, and the broader University City corridor, the property benefits from one of Philadelphia's most concentrated employment bases. University City contains more than 78,000 jobs and accounts for approximately 11% of Philadelphia employment despite representing less than 2% of the city's geographic footprint. More than 70% of University City jobs pay over $40,000 annually, further supporting a deep and relatively high-earning renter base. That employment base continues to grow. Burlington Stores recently announced plans to relocate its corporate headquarters to 3151 Market Street at Schuylkill Yards, representing approximately $370 million in private investment and bringing as many as 2,000 full-time jobs to Philadelphia. The move further validates University City as a major corporate, institutional, life-sciences, and employment hub. A compelling opportunity to acquire a stabilized mixed-use asset with approximately $81,600 in current annual rental income, built-in rent growth, newer construction, approximately seven years remaining on the tax abatement, and exposure to one of Philadelphia's strongest employment corridors.
Location
State PA
County Philadelphia
Area 19143 (19143)
Zoning CMX2
Interior
Hot Water Multi-tank, Natural Gas
Heating Forced Air
Cooling Central A/C
Heat Source Natural Gas
Exterior
Water Access N
Accessibility None
Garage N
Building
Foundation Concrete Perimeter
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Philadelphia City
Others
Tax ID 871403280
Ownership Fee Simple
Special Listing Condition Standard
NEARBY SCHOOL & BUSINESS