619 N 35th St - Apartments FOR SALE


Philadelphia, PA 19104- Mantua
$3,750,000 USD
610-606-1095
619 N 35th St, Philadelphia, PA for Sale
$3,750,000 USD
Apartments - FOR SALE
1/12
null | 6.6% Cap Rate

619 N 35th St
Philadelphia, PA 19104
Mantua


HIGHLIGHTS

  • TURNKEY APARTMENT BUILDING
  • LOCATED BY PENN AND DREXEL
  • TOP-10 USA MSA

OVERVIEW

Newly constructed multifamily building in University City, just steps from Drexel and UPenn. This fully leased property offers 11 apartments with 33 bedrooms and 33 bathrooms over 1,500 SF of retail space. Each unit features private bathrooms, large living areas, and modern finishes. 10-year tax abatement. With an annual gross income of $302K, operating expense of $52K, and net income (NOI) of $250K, this property offers a strong 6.6% cap rate. Ideal for investors seeking a turnkey asset in a prime, high-demand location — UCITY — the fastest-growing rental submarket in Philadelphia, a Top-10 USA MSA (population) and Top-5 USA MSA for Life Sciences. The Eds & Meds economy powers this district and provides the community with insatiable, perennial rental demand, insulating investment properties for years to come.

FOR SALE DETAILS

PRICE

$3,750,000 USD

PRICE/SF

$313 USD /SF

# OF UNITS

12

PRICE/UNIT

$312,500

CAP RATE

6.6%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

UCITY (DREXEL) 33-BED ASSET

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1920

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.13 AC

LAND SF

5,663 SF

ZONING

CMX-2

APN/PARCEL ID

881000704

ASK ABOUT THIS PROPERTY

Ryan McManusAgent PHLMore Info
610-606-1095

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Ryan McManusAgent PHLMore Info
610-606-1095

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