Cell: (410) 627-9990 | Office:(410) 561-0044
BEDS0
BATHS
MLS#PAPH2586226
STATUSACTIVE
PROPERTY TYPECommercial -
SUBDIVISIONUNIVERSITY CITY
SCHOOLTHE 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 $322K, operating expense of $67k, and net income (NOI) of $255K, this property offers a strong 6.7% 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.
Property Features
Property Type: Commercial -
Cooling: Central A/C
Fuel Type: Electric
Heating: Central
Lot Size: 0.14 Acres
Taxes: $8,000
Year Built: 1920
Feature Descriptions
Exterior: Masonry, Concrete
Location: Urban
Lot Dimensions: 0.14 Acre(S)
Municipality: PHILADELPHIA
Sewer: Public Sewer
Special View Info: City
Total Garage/Parking Spaces: 0
Units: 12
Utilities: Electric Available, Water Available
Water: Public
Local Schools
School District: THE SCHOOL DISTRICT OF PHILADELPHIA
Listed By / Shown By
Listed By
Agency Name: Keller Williams Liberty Place
Agency Phone: 6093995454
Shown By
Agent Name: Mike & Monica Nelson Team
Agent Phone: Cell: (410) 627-9990
Agency Title: Berkshire Hathaway HomeServices Homesale Realty
First American
Corporate Office - 215 S Centerville Rd. Lancaster, PA 17603
619 N 35th Street | MLS# PAPH2586226
This commercial property located at 619 N 35th Street , Philadelphia, PA 19104 is currently listed for sale with an asking price of $3,800,000. N 35th Street is located within the THE SCHOOL DISTRICT OF PHILADELPHIA school district. Search Philadelphia real estate on www.mikenelsonrealtor.com today.