610 N Union St - Apartments FOR SALE


Philadelphia, PA 19104- Mantua
$740,000 USD
267-243-4652
610 N Union St, Philadelphia, PA for Sale
$740,000 USD
Apartments - FOR SALE
1/26
null | 7.48% Cap Rate

610 N Union St
Philadelphia, PA 19104
Mantua


HIGHLIGHTS

  • Opportunity Zone
  • Premium Finishes
  • Private Roof-deck and Private Backyard
  • Close to University of Pennsylvania
  • Close promximity to CHOP, HUP, and Penn Presbyteerian Medical Centers
  • 7-Years left on Original Tax Abatement

OVERVIEW

Introducing a recently developed ground-up construction duplex investment opportunity in Philadelphia’s rapidly evolving Mantua neighborhood, one of West Philadelphia’s most active development corridors, just minutes from University City. Completed in 2023, this modern asset benefits from Philadelphia’s original 10-year tax abatement with approximately seven years remaining, supporting strong cash flow and long-term investment stability. The property features two spacious bi-level apartments, each offering three bedrooms and three full bathrooms with contemporary finishes including wide plank flooring, quartz countertops, stainless steel appliances, dual-tone cabinetry, in-unit laundry, and separately metered utilities. Unit A is currently leased at $2,450 per month and Unit B at $2,650, generating $5,100 in combined monthly income, with lease timing strategically positioned for upcoming renewal cycles that align well with continued rental growth in the area and the opportunity to push rents as demand strengthens. Located near Drexel University, the University of Pennsylvania, Penn Presbyterian Medical Center, CHOP, and other major healthcare and academic employers, the property benefits from consistent tenant demand from students, medical professionals, researchers, and young professionals. Mantua is also directly benefiting from the broader “University City 2.0” wave of expansion, including institutional investment, new mixed-use developments, infrastructure improvements, and retail growth that continue to elevate the neighborhood’s desirability while maintaining relative affordability compared to core University City. Additional highlights include a private rear yard for the lower unit and a roof deck with skyline views for the upper unit, making this a turnkey, stabilized investment positioned for both strong income performance and long-term appreciation as the surrounding corridor continues its upward trajectory.

FOR SALE DETAILS

PRICE

$740,000 USD

PRICE/SF

$264 USD /SF

# OF UNITS

2

PRICE/UNIT

$370,000

CAP RATE

7.48%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

610 Union St

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

2022

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.02 AC

LAND SF

871 SF

ZONING

RM1

APN/PARCEL ID

242235510,242235600

ASK ABOUT THIS PROPERTY

Eric DvotskyBerkshire Hathaway Fox & Roach - Devon-WayneMore Info
267-243-4652

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Eric DvotskyBerkshire Hathaway Fox & Roach - Devon-WayneMore Info
267-243-4652

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