521 N 34th St - Apartments FOR SALE


Philadelphia, PA 19104- Mantua
$3,675,000 USD
215-608-3734
521 N 34th St, Philadelphia, PA for Sale
$3,675,000 USD
Apartments - FOR SALE
1/32
null | 7.26% Cap Rate

521 N 34th St
Philadelphia, PA 19104
Mantua


HIGHLIGHTS

  • Average Unit Size of 1,555 SF |100% Occupied
  • Majority Three-Bedroom, Three-Bathroom Bi-Level Units
  • In-Place NOI: $266,636 7.26%. |.Going-In Cap Rate
  • 17,100 Rentable Square Feet |. Built in 2018
  • Minimal Deferred Maintenance Anticipated
  • Walking Distance to Drexel University and the University of Pennsylvania

OVERVIEW

We are pleased to present 521 N 34th Street, an 11-unit multifamily investment opportunity located in the heart of Philadelphia's University City neighborhood. Constructed in 2018, the property consists of 17,100 rentable square feet and features a highly desirable unit mix of eight bi-level three-bedroom, three-bathroom units, one two-bedroom, two-and-a-half-bathroom unit, and two one-bedroom, one-and-a-half-bathroom units. The asset is currently 100% occupied and generates approximately $266,636 in annual Net Operating Income. Located within walking distance of Drexel University, the University of Pennsylvania, Penn Medicine, and numerous major employers, the property benefits from one of Philadelphia's strongest and most resilient rental markets. With modern construction, oversized floor plans averaging 1,555 square feet, and minimal anticipated capital expenditures, 521 N 34th Street offers investors a turnkey opportunity with durable cash flow and long-term appreciation potential. Investment Highlights:? Average Unit Size of 1,555 SF Majority Three-Bedroom, Three-Bathroom Bi-Level Units 100% Occupied In-Place NOI: $266,636 7.26% Going-In Cap Rate 17,100 Rentable Square Feet Built in 2018 Walking Distance to Drexel University and the University of Pennsylvania Minimal Deferred Maintenance Anticipated Price: $3,675,000 Price/SF: $214.91 In-Place Cap Rate: 7.26% Year 1 Cap Rate: 7.51%

FOR SALE DETAILS

PRICE

$3,675,000 USD

PRICE/SF

$157 USD /SF

# OF UNITS

11

PRICE/UNIT

$334,091

CAP RATE

7.26%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

521 N 34th St

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Dormitory

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

2014

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.11 AC

LAND SF

4,875 SF

ZONING

RSA5

APN/PARCEL ID

881812348

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.