2337 Alder StPhiladelphia, PA 19148

For Sale
$700,000

Four-unit apartment building, strong income.

Overview

Added:
Dec 11, 2024
Days on market:
93
This exceptional investment opportunity presents a four-unit apartment building located at 2337 S Alder St, Philadelphia, PA 19148, in the Lower Moyamensing section of South Philadelphia. The property boasts a total of 4,800 square feet and is priced at $700,000, translating to $145.83 per square foot and $175,000 per unit. The building is a two-story Class B multifamily property currently generating over $59,000 in annual gross income. The existing configuration includes three 800-square-foot, one-bedroom, one-bathroom apartments, each equipped with in-unit washer and dryer hookups. Additionally, a substantial 2,000-square-foot commercial garage and warehouse space is currently leased to a local sign company. This presents a significant value-add opportunity, as the property has the potential for expansion to five units, leveraging its 48-foot wide footprint. All four units are currently occupied, providing immediate cash flow for the investor. This stabilized investment offers a compelling return and significant upside potential in a rapidly developing neighborhood. The property's location in South Philadelphia offers convenient access to major transportation routes and local amenities. This is a turnkey investment ready for immediate income generation and future growth.

Highlights

  • $700,000 asking price for a stabilized, value-add multifamily investment property.
  • Four-unit apartment building in Philadelphia, PA.
  • 4,800 square feet, with a price per square foot of $145.83.
  • Class B property featuring four units, each priced at $175,000.
  • Broker co-op available.

Property Details for 2337 Alder St

Property type
Multifamily properties, Apartment buildings
Square Feet
4,800 SF
Class
B
Stories
2
Units
4

Location Insight

City
Philadelphia
County
Philadelphia
State
Pennsylvania
Latitude
39.920219
Longitude
-75.1639941
2337 Alder St, Philadelphia, Pennsylvania

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2337 Alder St
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