1309 52Nd StPhiladelphia, PA 19143

For Sale
$1,250,000

5-Unit Apartment Building, 7.44% Cap Rate

Overview

Added:
Dec 11, 2024
Days on market:
93
This exceptional Class A, 5-unit apartment building in Philadelphia's University City (19143 zip code) presents a compelling investment opportunity. Built in 2021 as ground-up new construction, this property boasts a 7.44% cap rate and a strong NOI of $92,962. Each of the five units features two bedrooms and two full bathrooms, complete with a full appliance package, in-unit washer/dryer, built-in surround sound, and security systems. Four of the five units are currently rented. The property benefits from an eight-year remaining tax abatement, significantly reducing annual real estate taxes (less than $500 annually). Its prime location near Penn Medicine University City, Children's Hospital of Philadelphia, and the University of Pennsylvania ensures high occupancy and strong rental demand. The meticulously maintained building offers classic charm and exceptional curb appeal. The open floor plans, abundant natural light, and contemporary finishes create an inviting atmosphere for tenants. This multi-family investment offers enduring value and significant growth potential in a rapidly developing neighborhood. The asking price is $1,250,000, or $250,000 per unit. The permitted zoning is multi-family.

Highlights

  • 8 years remaining on a 100% real estate tax abatement.
  • Low annual real estate taxes (under $500) due to the abatement.
  • 7.25% cap rate.
  • 4 of 5 units currently leased (fifth unit under lease).
  • Each unit features a full appliance package, in-unit washer/dryer, security system, built-in surround sound, and smart thermostat.
  • Excellent location near Penn Medicine, Children's Hospital of Philadelphia, and the University of Pennsylvania.

Property Details for 1309 52Nd St

Property type
Multifamily properties, Apartment buildings
Class
A
Year Built
2021
Units
5

Location Insight

City
Philadelphia
County
Philadelphia
State
Pennsylvania
Latitude
39.9414627
Longitude
-75.2195827
1309 52Nd St, Philadelphia, Pennsylvania

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1309 52Nd St
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