836 N Broad St - Apartments FOR SALE


Philadelphia, PA 19130- Avenue Of The Arts Central
$13,000,000 USD
215-437-0720
836 N Broad St, Philadelphia, PA for Sale
$13,000,000 USD
Apartments - FOR SALE
1/11
null | 7.2% Cap Rate

836 N Broad St
Philadelphia, PA 19130
Avenue Of The Arts Central


HIGHLIGHTS

  • Strong In-Place Occupancy: 32 of 33 Apartment Units Currently Occupied
  • Diversified Unit Mix: Studio, One-Bedroom, Two-Bedroom, and Three-Bedroom Apartments
  • Additional Commercial Income: Two Occupied Commercial Units Generating Approximately $69,600 Annually
  • PHA-Supported Rental Income: Significant Portion of Residential Rental Income Supported through the Philadelphia Housing Authority (PHA)
  • Prime North Broad Street Location: Centrally Located Just North of Center City Philadelphia
  • Access to Public Transportation: Convenient Access to SEPTA's Broad Street Line and Multiple Bus Routes

OVERVIEW

836-838 North Broad Street is a mixed-use multifamily asset located along the North Broad Street corridor in Philadelphia, Pennsylvania. The Property is strategically positioned just north of Center City Philadelphia in an established residential neighborhood that continues to benefit from new development and investment throughout the surrounding area. 836-38 North Broad Street consists of 33 apartment units and two ground-floor commercial units. The residential component features a diverse mix of one studio, 13 one-bedroom, 14 two-bedroom, and five three-bedroom apartments, providing a variety of unit types suited to the surrounding rental market. The two commercial spaces are currently occupied and generate approximately $69,600 in annual rental income. The Property offers strong in-place occupancy, with 32 of 33 apartment units currently occupied. Average in-place rents are approximately $2,464 for one-bedroom, $2,943 for two-bedroom, and $3,535 for three-bedroom units. The residential rent roll also benefits from a significant Philadelphia Housing Authority (PHA) component, providing an additional source of rental income across the majority of occupied units. Residents benefit from the location along the North Broad Street corridor and immediate proximity to Center City Philadelphia. The surrounding area provides convenient access to restaurants, retailers, grocery stores, entertainment venues, and neighborhood-serving businesses throughout North Broad Street and nearby Center City. The Property is well positioned with convenient access to SEPTA's Broad Street Line and multiple bus routes, providing direct connectivity throughout Philadelphia. Its central location also offers convenient access to major employment centers, universities, healthcare institutions, and cultural destinations throughout Center City and the surrounding neighborhoods. Continued residential and commercial investment along North Broad Street has further strengthened the corridor as a desirable Philadelphia rental market. New construction and adaptive reuse projects throughout the surrounding area continue to add residential density and neighborhood amenities while supporting long-term rental demand. 836-838 North Broad Street is an opportunity to purchase a newly built, well-constructed multifamily asset in a centrally located Philadelphia submarket. Strong in-place occupancy, PHA-supported rental income, commercial income, and convenient access to Center City and public transportation provide new ownership with durable in-place cash flow and long-term investment potential.

FOR SALE DETAILS

PRICE

$13,000,000 USD

PRICE/SF

$648 USD /SF

# OF UNITS

35

PRICE/UNIT

$371,429

CAP RATE

7.2%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

836-838 North Broad Street

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

5

YEAR BUILT

2023

PARKING SPACES

11

LAND DETAILS

LAND ACRES

0.14 AC

LAND SF

6,080 SF

ZONING

CMX-4

APN/PARCEL ID

885138560

ASK ABOUT THIS PROPERTY

Chris FarmerGREAMore Info
215-437-0720

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

Chris FarmerGREAMore Info
215-437-0720

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