PA > Philadelphia
Philadelphia, PA 19104,619 N 35TH ST
Philadelphia, PA 19104,619 N 35TH ST
Philadelphia, PA 19104,619 N 35TH ST
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Giovanni Maggipinto

Giovanni Maggipinto

+1(908) 872-7635
Listed by Or Aharon • Keller Williams Liberty Place
$3,750,000
Est. payment /mo
13,822 SqFt
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UPDATED:

Key Details

Property Type Commercial

Sub Type Five Or More Units

Listing Status Active

Purchase Type For Sale

Square Footage 13,822 sqft

Price per Sqft $271

MLS Listing ID PAPH2400488

Year Built 1920

Available Date 2024-09-30

Annual Tax Amount $8,398

Tax Year 2024

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 1,500 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 $302K, operating expense of $52K, and net income (NOI) of $250K, this property offers a strong 6.6% 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

Water Access N

Accessibility Other, Level Entry - Main

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

SqFt Source Assessor

Acceptable Financing Cash, Other, Conventional

Listing Terms Cash, Other, Conventional

Financing Cash,Other,Conventional

Special Listing Condition Standard

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Bright MLS (BMLS)

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agent

Giovanni Maggipinto

+1(908) 872-7635

Realtor Associate | License ID: 1644529

Realtor Associate License ID: 1644529

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