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Charles C. Heyward, Jr.

charles@heywardhomes.com +1(240) 604-9639

Listed by Or Aharon • Keller Williams Liberty Place

$ 3,800,000

Est. payment | -/mo

6,000 Sqft Lot

Save

$ 3,800,000

Est. payment | -/mo

Save

6,000 Sqft Lot

Key Details

Property Type Commercial

Sub Type Five Or More Units

Listing Status Active

Purchase Type For Sale

Subdivision University City

MLS Listing ID PAPH2586226

Year Built 1920

Annual Tax Amount $8,000

Tax Year 2025

Lot Size 6,000 Sqft

Acres 0.14

Lot Dimensions 60.00 x 100.00

Property Sub-Type Five Or More Units

Source BRIGHT

Property Description

Newly constructed multifamily building in University City, just steps from Drexel and UPenn. This fully leased property offers 11 apartments with 33 bedrooms and 33 bathrooms over 1,460 SF of retail space. Each unit features private bathrooms, large living areas, and modern finishes. 10-year tax abatement. With an annual gross income of $322K, operating expense of $67k, and net income (NOI) of $255K, this property offers a strong 6.7% cap rate. Ideal for investors seeking a turnkey asset in a prime, high-demand location — UCITY — the fastest-growing rental submarket in Philadelphia, a Top-10 USA MSA (population) and Top-5 USA MSA for Life Sciences. The Eds & Meds economy powers this district and provides the community with insatiable, perennial rental demand, insulating investment properties for years to come.

Location

State PA

County Philadelphia

Area 19104 (19104)

Zoning CMX2

Interior

Hot Water Electric

Heating Central

Cooling Central A/C

Heat Source Electric

Exterior

Utilities Available Electric Available, Water Available

Water Access N

View City

Accessibility None

Garage N

Building

Sewer Public Sewer

Water Public

New Construction N

Schools

School District The School District Of Philadelphia

Others

Tax ID 871600765

Ownership Fee Simple

Special Listing Condition Standard

Nearby Locations

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(240) 604-9639

charles@heywardhomes.com

16701 Melford Blvd, Ste 100, Bowie, MD, 20715

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619 N 35TH ST Philadelphia, PA 19104