2020 N 22nd St - Apartments FOR SALE


Philadelphia, PA 19121- North Philadelphia West
$3,000,000 USD
267-774-6886
2020 N 22nd St, Philadelphia, PA for Sale
$3,000,000 USD
Apartments - FOR SALE
1/10
null | 6.94% Cap Rate

2020 N 22nd St
Philadelphia, PA 19121
North Philadelphia West


HIGHLIGHTS

  • STABILIZED TURN IN KEY 15 UNITS CLASS A MULTIFAMILY
  • 90% OCCUPIED
  • LOW MAINTENANCE AND APPROVED 10 YEARS TAX ABATEMENT

OVERVIEW

PRIME INVESTMENT OPPORTUNITY – TURN-KEY 2-YEAR-OLD NEW CONSTRUCTION 15-UNIT BUILDING (13 UNITS RENTED) RARE CHANCE TO ACQUIRE A MODERN, HIGH-END NEW CONSTRUCTION MULTIFAMILY ASSET DELIVERING STRONG IMMEDIATE CASH FLOW AND LONG-TERM UPSIDE. THIS 2-YEAR-OLD, 15-UNIT BUILDING IS 90% LEASED WITH 13 UNITS OCCUPIED BY QUALITY TENANTS, ENSURING STABLE AND CONSISTENT RENTAL INCOME FROM DAY ONE. PROPERTY HIGHLIGHTS (INVESTOR FOCUSED) • 15-UNIT NEW CONSTRUCTION (BUILT 2022) • 13 UNITS RENTED – IMMEDIATE CASH FLOW • 10-YEAR TAX ABATEMENT – ONLY $2,750 YEARLY PROPERTY TAX • PREMIUM UNIT MIX – STUDIO, 1-BED, 2-BED • LUXURY FINISHES – QUARTZ KITCHENS, STAINLESS STEEL APPLIANCES • CUSTOM TILE BATHS + IN-UNIT LAUNDRY • ENERGY-EFFICIENT & FULLY SPRINKLERED • SEPARATE UTILITIES – LOWER OPERATING EXPENSES • SECURE ENTRY + CAMERA SYSTEM • LOW MAINTENANCE / MINIMAL CAPEX FOR YEARS STRONG OPERATING PERFORMANCE • HIGH RENTAL DEMAND – TOP-OF-MARKET RENTS • MODERN MECHANICALS – REDUCED REPAIRS • IDEAL FOR PASSIVE OWNERSHIP OR VALUE-ADD STRATEGY • SIGNIFICANT RENT GROWTH & APPRECIATION POTENTIAL • LOW PROPERTY TAXES DRAMATICALLY IMPROVE CASH FLOW LOCATION ADVANTAGES • RAPIDLY DEVELOPING, HIGH-DEMAND RENTAL AREA • SURROUNDED BY NEW CONSTRUCTION, UNIVERSITIES & MAJOR EMPLOYERS • WALKABLE TO PUBLIC TRANSIT, RETAIL, AND COMMUNITY AMENITIES • STRONG AREA APPRECIATION + FUTURE DEVELOPMENT PIPELINE INVESTMENT SUMMARY A TURN-KEY, CASH-FLOWING, LUXURY MULTIFAMILY BUILDING WITH EXTREMELY LOW PROPERTY TAXES THANKS TO A 10-YEAR ABATEMENT. PERFECT FOR 1031 BUYERS, PORTFOLIO EXPANSION, OR LONG-TERM WEALTH BUILDING WITH STRONG OCCUPANCY AND MEANINGFUL UPSIDE.

FOR SALE DETAILS

PRICE

$3,000,000 USD

PRICE/SF

$296 USD /SF

# OF UNITS

15

PRICE/UNIT

$200,000

CAP RATE

6.94%

% LEASED

90%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

2023

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.06 AC

LAND SF

2,614 SF

ZONING

RM-1

APN/PARCEL ID

-

ASK ABOUT THIS PROPERTY

Gazi AtasevenHomeSmart Realty AdvisorsMore Info
267-774-6886

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Gazi AtasevenHomeSmart Realty AdvisorsMore Info
267-774-6886

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