1230 N Marshall St - Apartments FOR SALE


Philadelphia, PA 19122- North Philadelphia East
$1,299,000 USD
267-243-4652
1230 N Marshall St, Philadelphia, PA for Sale
$1,299,000 USD
Apartments - FOR SALE
1/29
null | 6.96% Cap Rate

1230 N Marshall St
Philadelphia, PA 19122
North Philadelphia East


HIGHLIGHTS

  • • Attractive $216,500 Price Per Unit for 2024 New Construction
  • • Old 10-Year Tax Abatement with Approximately 8 Years Remaining
  • • In-Unit Washer & Dryer in Every Residence, Supporting Strong Tenant Demand
  • • Prime Olde Kensington Location Near Girard Ave, Fishtown & Northern Liberties
  • • Separately Metered Units with Individual Mechanical Systems, Limiting Owner Utility Exposure and Operating Costs

OVERVIEW

Philly CRE is pleased to present 1230 N Marshall Street, a recently constructed six-unit multifamily asset in the heart of Olde Kensington, just steps from Girard Avenue and moments from Fishtown and Northern Liberties. Built in 2024, this boutique property offers investors the opportunity to acquire a modern, low-maintenance, income-producing asset in one of Philadelphia’s most active and rapidly appreciating residential corridors. The property will be delivered fully occupied, providing immediate stabilized income from day one. The building features two studios, three one-bedroom residences, and one spacious two-bedroom, two-bathroom unit, with each residence offering contemporary kitchens and bathrooms, efficient layouts, individual mechanical systems, and in-unit washers and dryers. The modern construction and highly functional unit mix create an attractive rental product designed to support strong tenant demand and long-term rent growth. Gross potential rent is approximately $9,277 per month, or $111,324 annually. Projected annual operating expenses total approximately $20,854, resulting in projected NOI of approximately $90,470. At the current asking price of $1,299,000, or approximately $216,500 per unit, the property offers a projected 6.96% capitalization rate and an attractive combination of current yield, newer construction, and long-term appreciation potential. Further strengthening the investment profile, 1230 N Marshall Street benefits from Philadelphia’s old 10-year residential new-construction tax abatement program. As a 2024 asset, the property remains in the early years of its declining abatement schedule, providing meaningful real estate tax savings and helping support an efficient operating expense structure. The property is ideally positioned within walking distance of Girard Station and surrounded by the restaurants, retail, entertainment, nightlife, and continued development of Olde Kensington, Fishtown, and Northern Liberties. This highly desirable location continues to attract renters and investment while supporting sustained rental growth and long-term property values. Located within a Qualified Opportunity Zone, 1230 N Marshall Street may also provide additional benefits for qualifying investors. With 2024 construction, full occupancy at delivery, strong projected NOI, favorable tax-abatement benefits, modern building systems, and an exceptional location, this offering represents a compelling opportunity to acquire a turnkey multifamily investment positioned for durable cash flow and long-term value growth.

FOR SALE DETAILS

PRICE

$1,299,000 USD

PRICE/SF

$274 USD /SF

# OF UNITS

6

PRICE/UNIT

$216,500

CAP RATE

6.96%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

2023

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.04 AC

LAND SF

1,742 SF

ZONING

RM1

APN/PARCEL ID

881000774

ASK ABOUT THIS PROPERTY

Eric DvotskyBerkshire Hathaway Fox & Roach - Devon-WayneMore Info
267-243-4652

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Eric DvotskyBerkshire Hathaway Fox & Roach - Devon-WayneMore Info
267-243-4652

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.