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.