5352 Cedar Ave - Apartments FOR SALE


Philadelphia, PA 19143- Cobbs Creek
$1,225,000 USD
267-227-4971
5352 Cedar Ave, Philadelphia, PA for Sale
$1,225,000 USD
Apartments - FOR SALE
1/120
null | 7.62% Cap Rate

5352 Cedar Ave
Philadelphia, PA 19143
Cobbs Creek


HIGHLIGHTS

  • Delivered fully vacant — full control of lease-up and rent roll
  • 10-year tax abatement — reduced operating costs during stabilization
  • Large unit layouts including 3-bedroom units with outdoor space
  • Positioned directly across from PHMC Public Health Campus
  • Proximity to University City and Center City employment centers
  • Value-add / lease-up opportunity in established West Philadelphia submarket Cedar Park/ Cobbs Creek

OVERVIEW

5352–54 Cedar Avenue presents a fully renovated, turnkey 6-unit multifamily opportunity located on the border of Cedar Park and Cobbs Creek in West Philadelphia. Offered at a newly adjusted price of $1,225,000, the property delivers an attractive projected return with immediate lease-up potential in one of the city’s strongest rental corridors. The building consists of two 3-bedroom, 2-bath units, three 2-bedroom units, and one 1-bedroom unit, all renovated with modern finishes including hardwood flooring, recessed lighting, stainless steel appliances, updated kitchens and baths, and in-unit laundry. The property is fully electric with separately metered utilities and minimal anticipated near-term capital expenditures. First-floor units feature private rear yard spaces, a highly desirable amenity uncommon in comparable multifamily assets. Additional improvements include updated mechanical systems, sprinkler system, fire alarm system, modernized common areas, and covered front porches overlooking Cedar Avenue. Delivered fully vacant, investors have the ability to immediately stabilize the asset at projected market rents without legacy tenancy issues. The property also benefits from a 10-year tax abatement with phased step-up structure, creating substantial early-year tax savings and improved cash flow. Positioned directly across from the PHMC Public Health Campus and within close proximity to University City, major hospitals, Center City access, public transportation, Clark Park, Baltimore Avenue retail, and neighborhood dining, the property is well situated for long-term rental demand and appreciation.

FOR SALE DETAILS

PRICE

$1,225,000 USD

PRICE/SF

$181 USD /SF

# OF UNITS

6

PRICE/UNIT

$204,167

CAP RATE

7.62%

% LEASED

0%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

5352-54 Cedar Ave

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1945

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.04 AC

LAND SF

1,907 SF

ZONING

RM1

APN/PARCEL ID

881450860

ASK ABOUT THIS PROPERTY

Jonathan ToriAddison Real Estate Co.More Info
267-227-4971

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Jonathan ToriAddison Real Estate Co.More Info
267-227-4971

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