1917 N 7th St - Apartments FOR SALE


Philadelphia, PA 19122- North Philadelphia East
$1,550,000 USD
267-243-4652
1917 N 7th St, Philadelphia, PA for Sale
$1,550,000 USD
Apartments - FOR SALE
1/20
null | 7.26% Cap Rate

1917 N 7th St
Philadelphia, PA 19122
North Philadelphia East


HIGHLIGHTS

  • 2019-construction, six-unit multifamily asset steps from Temple University’s main campus in a rapidly growing North Philadelphia corridor.
  • Fully leased with a highly functional mix of 2–4 bedroom units, modern finishes, and in-unit laundry tailored to students and young professionals.
  • Approximately three years remaining on the original 10-year tax abatement starting in 2019, supporting enhanced near-term cash flow.
  • Located in a Qualified Opportunity Zone with strong in-place stability and long-term upside.

OVERVIEW

Philly CRE Advisors is pleased to present a strong, stabilized investment opportunity in one of Philadelphia’s most active and rapidly transforming submarkets. Built in 2019, this modern six-unit multifamily property combines durable new construction with reliable in-place income, just steps from Temple University’s main campus and minutes from the expanding energy of North Broad Street, Fishtown, and Northern Liberties. The property is fully leased and professionally managed, featuring a highly desirable unit mix: four (4) 2-bedroom, 2-bath units, one (1) 3-bedroom, 3.5-bath unit, and one (1) spacious 4-bedroom, 4-bath residence with private backyard access. All units offer contemporary finishes, in-unit laundry, and open-concept layouts designed to cater to both Temple’s student population and young professionals, supporting consistent occupancy and strong in-place cash flow. With current rents below projected market levels, there is clear upside through lease turnover, renewals, and strategic rent increases. Financially, the asset presents a compelling profile with in-place income of approximately $140,580 and a pro forma projection of $145,800, while maintaining a low expense ratio of roughly 23%. Approximately three years remain on the original 10-year tax abatement that began in 2019, providing continued near-term expense relief and enhancing cash flow over the remaining abatement period. From a macro perspective, the location continues to benefit from Temple University’s ongoing campus investment, steady redevelopment along the North Broad corridor, and the continued northward momentum of Fishtown and Northern Liberties. This convergence has driven increased investor demand, rising rental rates, and long-term appreciation across the surrounding neighborhoods. Additionally, the property’s placement within a Qualified Opportunity Zone offers potential tax advantages for investors seeking to maximize after-tax returns. Whether acquired as a standalone investment or as part of a larger portfolio, this is a rare opportunity to secure a newer-construction, income-producing asset with immediate stability and long-term upside in one of Philadelphia’s most dynamic growth corridors.

FOR SALE DETAILS

PRICE

$1,550,000 USD

PRICE/SF

$309 USD /SF

# OF UNITS

21

PRICE/UNIT

$73,810

CAP RATE

7.26%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

2018

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.06 AC

LAND SF

2,614 SF

ZONING

RM1

APN/PARCEL ID

881075909

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.