619 N 35th St, Philadelphia, PA 19104
- $3,800,000
- List Price
- $3,800,000
- Days on Market
- 205
- Status
- ACTIVE
- MLS#
- PAPH2586226
- Lot Size (Acres)
- 0.14
- Year Built
- 1920
- County
- Philadelphia
- School District
- The School District Of Philadelphia
Property Description
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 1,460 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 $318, operating expenses of $67k, and net income (NOI) of $251K, 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.
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Additional Information
- Area
- 19104 (19104)
- Subdivision
- University City
- Taxes
- $8000
- Stories
- 3
- School District
- The School District Of Philadelphia
- View
- City
- Heating
- Central
- Heating Fuel
- Electric
- Cooling
- Central A/C
- Utilities
- Electric Available, Water Available
- Water
- Public
- Sewer
- Public Sewer
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Listing courtesy of Keller Williams Liberty Place. Contact: 6093995454