2215 E Tioga St - Apartments FOR SALE


Philadelphia, PA 19134- Port Richmond
$9,450,000 USD
609-408-8674
2215 E Tioga St, Philadelphia, PA for Sale
$9,450,000 USD
Apartments - FOR SALE
1/55
null | 6.64% Cap Rate

2215 E Tioga St
Philadelphia, PA 19134
Port Richmond


HIGHLIGHTS

  • Recently redeveloped asset combining historic architecture with modern finishes.
  • Excellent access to I-95, SEPTA transit, and major Philadelphia employment hubs.
  • 45-unit property offering immediate scale and operational efficiency.
  • Strong rent growth potential through value-add strategies and market repositioning.
  • Community amenities include secure parking, pet-friendly spaces, and bicycle storage.
  • Located in Port Richmond, near Fishtown, a vibrant neighborhood attracting strong tenant demand.

OVERVIEW

East Tioga Lofts offers an exceptional multifamily investment in Philadelphia’s Port Richmond neighborhood. The property features 45 modern loft-style units in a 33,555-square-foot building, recently redeveloped in 2022 to meet contemporary living standards. Units combine historic industrial charm with sleek, high-quality finishes, including exposed brick, hardwood flooring, polished concrete, and stainless steel appliances. Shared community features include controlled-access entry, on-site parking, a pet-friendly environment with outdoor amenities, and bicycle storage. Positioned adjacent to the Fishtown area, the property enjoys connectivity to Center City, Temple University, Drexel University, and major medical and corporate employers. Immediate access to I-95 and public transportation enhances tenant convenience and supports strong long-term demand. Current operations demonstrate reliable cash flow, with an NOI of $627,272 and projected pro forma NOI of $691,952 through strategic rent adjustments. Priced at $9,450,000 with a stabilized cap rate of 7.32%, East Tioga Lofts provides investors significant upside opportunity and attractive yield in a competitive submarket.

FOR SALE DETAILS

PRICE

$9,450,000 USD

PRICE/SF

$282 USD /SF

# OF UNITS

45

PRICE/UNIT

$210,000

CAP RATE

6.64%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

East Tioga Lofts

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

2022

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1 AC

LAND SF

43,560 SF

ZONING

ICMX

APN/PARCEL ID

881000476

ASK ABOUT THIS PROPERTY

Michael HinchmanGraystone Capital AdvisorsMore Info
609-408-8674

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Michael HinchmanGraystone Capital AdvisorsMore Info
609-408-8674

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