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.
For sale
Price cut: $150K (6/20)
$3,600,000
619 N 35th St, Philadelphia, PA 19104
30beds
--baths
13,822sqft
Est.:
Multi Family
Built in 1920
-- sqft lot
$-- Zestimate®
$260/sqft
$-- HOA
What's special
Modern finishesPrivate bathrooms
- 260 days
- on Zillow |
- 405 |
- 49 |
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