2440 Kensington Ave - Apartments FOR SALE


Philadelphia, PA 19125- North Philadelphia East
$2,225,000 USD
215-608-3734
2440 Kensington Ave, Philadelphia, PA for Sale
$2,225,000 USD
Apartments - FOR SALE
1/30
null | 7.31% Cap Rate

2440 Kensington Ave
Philadelphia, PA 19125
North Philadelphia East


HIGHLIGHTS

  • STABILIZED 10-UNIT MULTIFAMILY ASSET – Well-performing apartment building with strong in-place occupancy.
  • STRONG CAP RATE – Projected 7.31% cap rate at the $2,225,000 offering price.
  • ATTRACTIVE CASH FLOW – Projected $47,665 annual cash flow after debt service.
  • UNIFORM UNIT MIX – Ten 2-bedroom units providing consistent rental demand.
  • STRONG AVERAGE RENT – Average monthly rent of approximately $1,533 per unit.
  • PAVED PARKING SPACES – 3 income-producing paved parking spaces.

OVERVIEW

A 10-unit multifamily property with a commercial space, located in the rapidly developing Kensington neighborhood of Philadelphia. The asset provides investors with the opportunity to acquire a stabilized apartment building featuring strong current rents and a proven operating history. The property includes 10 two-bedroom apartments totaling approximately 7,928 square feet of rentable space, a 2,500-square-foot commercial unit, and 3 parking spaces, ensuring consistent rental income and smooth operations. The building’s uniform two-bedroom layout and contemporary design appeal to both roommate households and small families, supporting stable occupancy and rental demand. At the projected purchase price of $2,225,000, the asset offers investors a 7.31% cap rate and approximately 7.14% cash-on-cash return, providing strong cash flow and the potential for ongoing rental growth as the surrounding neighborhood continues to develop.

FOR SALE DETAILS

PRICE

$2,225,000 USD

PRICE/SF

$213 USD /SF

# OF UNITS

10

PRICE/UNIT

$222,500

CAP RATE

7.31%

% LEASED

-

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

0.12 AC

LAND SF

5,227 SF

ZONING

CMX2

APN/PARCEL ID

881000740

ASK ABOUT THIS PROPERTY

Saam TashayyodTrophy Commercial Real EstateMore Info
215-608-3734

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Saam TashayyodTrophy Commercial Real EstateMore Info
215-608-3734

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