619 N 35TH ST, PHILADELPHIA, PA$3,600,000
Class-Harlan Real Estate
Phone: (215) 348-8111
Fax: (215) 348-1721
info@classharlan.com
Listing Provided By:
Or Aharon of Keller Williams Liberty Place
Fax: (215) 348-1721
info@classharlan.com
Listing Provided By:Or Aharon of Keller Williams Liberty Place
MLS #:
PAPH2400488
Year:
1920
SQ Feet:
0
Acreage:
0.14
Acreage:
3
Units:
12
Zoning:
CMX2
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 $304K, operating expense of $44K, and net income (NOI) of $260K, this property offers a strong 7.2% 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.
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