312-314 N 33rd St - Apartments FOR SALE


Philadelphia, PA 19104- Powelton
$2,400,000 USD
215-315-3326
312-314 N 33rd St, Philadelphia, PA for Sale
$2,400,000 USD
Apartments - FOR SALE
1/11
null | Request Cap Rate

312-314 N 33rd St
Philadelphia, PA 19104
Powelton


HIGHLIGHTS

  • Established 28-unit (52-bed) portfolio in prime Powelton Village & Spruce Hill, walkable to Drexel & UPenn
  • Stabilized, income-producing assets with value-add potential and a pro forma 7.3% cap rate
  • Strong tenant demand supported by nearby universities

OVERVIEW

Rare opportunity to acquire an established portfolio of 28 units (52 beds) across four buildings in prime Powelton Village and Spruce Hill locations, walkable to both Drexel University and University of Pennsylvania. Stabilized, income-producing investment with value-add potential via light upgrades - proforma 7.3% cap rate. Portfolio price is $5,100,000 for all four buildings, or purchase separately. Grey Gables (a.k.a. 312-14 N 33rd Street) is a 10 unit building totaling 32 beds, offered at $2,400,000. Surface parking on site for 5 cars offers an extra income source, or could be redeveloped in the future to add additional units. Benefit from a strong tenant base derived from University of Pennsylvania's full-time student population of 23,948 (up 1.65% YOY), as well as 39,000+ individuals employed by University of Pennsylvania, and an overall population of more than 100,000 residents between the 19104 and 19139 zip codes. As the pipeline of multifamily deliveries in Philadelphia continues to dwindle, demand is expected to outpace supply, driving further rental growth in 2025-2026, presenting a unique opportunity for investors to acquire a high-quality, income-producing asset with significant long-term upside. Offering memorandum available upon request.

FOR SALE DETAILS

PRICE

$2,400,000 USD

PRICE/SF

$184 USD /SF

# OF UNITS

10

PRICE/UNIT

$240,000

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Grey Gables

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1895

PARKING SPACES

5

LAND DETAILS

LAND ACRES

0.16 AC

LAND SF

6,900 SF

ZONING

RTA1

APN/PARCEL ID

881108040

ASK ABOUT THIS PROPERTY

Samantha MillerSelect Commercial AdvisorsMore Info
215-315-3326

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Samantha MillerSelect Commercial AdvisorsMore Info
215-315-3326

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