Global Real Estate Advisors (GREA) is pleased to present the opportunity to acquire the fee simple interest in 1228 South 2nd Street & 1230 South 2nd Street (aka 1231 S. Philip Street), a boutique 7-unit multifamily property located in the heart of Pennsport, a desirable and rapidly gentrifying residential neighborhood in South Philadelphia. The Property offers investors an attractive entry point into a strong neighborhood known for low vacancy, strong demographics, and sustained rental demand.
The Property features a well-balanced mix of (5) two-bedroom/one-bath rental units and (2) one-bedroom/one-bath rental units, with an average monthly in-place rent of $1,468. The layouts cater to a diverse renter base, including young professionals, couples, and small families. In-place rents range from $1,550 to $1,700 for the one-bedroom units and $1,440 to $1,700 for the two-bedroom units, providing measurable room for repositioning or incremental increases through turnover.
As a turnkey multifamily asset in a quality location, 1228-1230 South 2nd Street presents a compelling opportunity for investors seeking rental upside, high tenant demand, and future appreciation driven by a neighborhood that has benefited from Philadelphia’s development boom.