2,400 Sqft Lot
2,400 Sqft Lot
Key Details
Property Type Commercial
Sub Type Five Or More Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID PAPH2592042
Year Built 1925
Annual Tax Amount $5,074
Tax Year 2025
Lot Size 2,400 Sqft
Acres 0.06
Lot Dimensions 20.00 x 120.00
Property Sub-Type Five Or More Units
Source BRIGHT
Property Description
The property features a diversified unit mix and strong occupancy, generating consistent rental income with zero vacancy. At the offering price, the asset delivers an attractive going-in cap rate with additional upside through continued rent optimization, unit upgrade improvements, and long-term market appreciation.
This opportunity is well-suited for both cash-flow-focused investors and value-oriented buyers seeking a stable asset in an improving Philadelphia submarket.
Investment Highlights
-10-unit stabilized multifamily asset
-Strong in-place income with 0% vacancy at underwriting
-Attractive entry basis at $120,000 per unit
-Going-in cap rate of 7.05% on in-place NOI
-Diversified unit mix supporting tenant demand
-Ideal for long-term hold or leveraged cash-flow strategy
-Located directly on and facing Norris Square Park
-2 blocks away from Fishtown
Location
State PA
County Philadelphia
Area 19122 (19122)
Zoning RM1
Interior
Hot Water Electric, Other
Heating Hot Water
Cooling Other
Heat Source Other
Exterior
Water Access N
Accessibility Other
Garage N
Building
Sewer Private Sewer
Water Private
New Construction N
Schools
School District Philadelphia City
Others
Tax ID 881299306
Ownership Fee Simple
Special Listing Condition Standard
Nearby Locations
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