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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 1,500 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 $304K, operating expense of $44K, and net income (NOI) of $260K, this property offers a strong 7.2% 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.
| DAYS ON MARKET | 308 | LAST UPDATED | 6/20/2025 |
|---|---|---|---|
| YEAR BUILT | 1920 | COMMUNITY | 19104 (19104) |
| COUNTY | PHILADELPHIA | STATUS | Active |
| PROPERTY TYPE(S) | Commercial |
| School District | THE SCHOOL DISTRICT OF PHILADELPHIA |
|---|
| PRICE HISTORY | |
| Prior to Jan 9, '25 | $4,000,000 |
|---|---|
| Jan 9, '25 - Jun 20, '25 | $3,750,000 |
| Jun 20, '25 - Today | $3,600,000 |
| ADDITIONAL DETAILS | |
| AIR | Central Air, Electric |
|---|---|
| AIR CONDITIONING | Yes |
| APPLIANCES | Electric Water Heater |
| AREA | 19104 (19104) |
| HEAT | Central, Electric |
| LOT | 6098 sq ft |
| LOT DIMENSIONS | 60.00 x 100.00 |
| PARKING | None |
| SEWER | Public Sewer |
| STORIES | 3 |
| TAXES | 8398 |
| WATER | Public |
MORTGAGE CALCULATOR
TOTAL MONTHLY PAYMENT
0
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*Estimate only
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