2010 N 8th St - Apartments FOR SALE


Philadelphia, PA 19122- North Philadelphia East
$1,099,000 USD
267-243-4652
2010 N 8th St, Philadelphia, PA for Sale
$1,099,000 USD
Apartments - FOR SALE
1/30
null | 7.84% Cap Rate

2010 N 8th St
Philadelphia, PA 19122
North Philadelphia East


HIGHLIGHTS

  • 2021 construction 4 unit asset with 1.39 DSCR, 7.93% cap rate, and 7.34% cash on cash return
  • Fully leased with PHA backed tenants providing stable, predictable income
  • Rare two building duplex setup on one parcel with potential to subdivide
  • 8 years remaining on tax abatement plus 1 year free professional property management

OVERVIEW

Philly CRE is proud to present 2010 N 8th Street, a standout turnkey four-unit multifamily investment built in 2021 and ideally positioned just minutes from Temple University. This exceptional asset features four oversized three-bedroom, three-bathroom units across a unique two-building configuration, with each structure designed as a duplex and offering access to a private backyard. Both buildings sit on a single parcel, presenting the rare potential for a future subdivision, creating additional exit strategies and long-term value for investors. The property benefits from the original 10-year tax abatement with approximately eight years remaining, significantly enhancing cash flow and overall returns. Each unit is finished with modern, high-quality materials, spacious layouts, and functional floor plans that consistently attract both student renters and workforce tenants. All units are currently leased to PHA tenants, delivering stable, predictable, government-backed income from day one. In-place rents further highlight the strength of the asset, with Unit 1 at $2,300, Unit 2 at $2,038, Unit 3 at $2,300, and Unit 4 at $1,970. These figures support a strong 1.39 DSCR, an impressive 7.93 percent cap rate, and a 7.34 percent cash-on-cash return, offering immediate performance with clear upside through future rent increases and lease renewals. Surrounded by ongoing development and new construction, the property is located in a high-demand rental pocket experiencing continued appreciation. Its proximity to Temple University, along with convenient access to Northern Liberties and Fishtown, ensures sustained tenant demand and long-term rental growth. The property is also situated within a Qualified Opportunity Zone, offering potential tax advantages for investors seeking both income and appreciation. As an added incentive, the offering includes one year of free professional property management with acceptable terms, providing immediate operational support and enhancing first-year cash flow. With modern construction, PHA-backed tenancy, strong in-place rents, exceptional return metrics, eight years remaining on the tax abatement, and the flexibility of two duplex buildings on a potentially separable parcel, 2010 N 8th Street represents a rare opportunity to acquire a high-performing, low-maintenance asset in one of Philadelphia’s fastest-growing submarkets. Capitalize on this rare opportunity to secure a turnkey, high-yielding investment with immediate management support and strong long-term growth potential.

FOR SALE DETAILS

PRICE

$1,099,000 USD

PRICE/SF

$583 USD /SF

# OF UNITS

4

PRICE/UNIT

$274,750

CAP RATE

7.84%

% 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

2020

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.03 AC

LAND SF

1,525 SF

ZONING

RM1

APN/PARCEL ID

202114100

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.