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19 S 44 Th St

$1,395,000

19 S 44 Th St, Philadelphia, Pa 19104

Active
Last Updated: 02/08/2025

5.61

Cap Rate

83,324

NOI

Details:
Cap Rate:    5.61%
NOI:    $83,324
Year Built:    2020
Zoning:    CMX4
Highlights:
  • Days on Market: 144
  • Heating: Central, Forced Air
Description:

19 S 44th Street is a 6-unit multifamily asset in Philadelphia's University City District.

19 S 44th Avenue was built in 2020 and comprises two (2) studios, two (2) one-bed, one-and-a-half-bath units, and two (2) two-bed, two-bath units. The average square feet for studios, one-beds, and two-beds are 458 SF, 880 SF, and 918 SF. All units are fully occupied achieving an average rent of $1,203 for studios, $1,338 for one-beds, and $1,695 for two-beds. The property has a 10-year tax abatement that ends in 2031.

Units feature high-end finishes with in-unit washers & dryers, a full stainless steel appliance package including dishwashers, luxury vinyl flooring, granite countertops, recessed lighting, and self-controlled central AC. Tenants are responsible for electricity, cable/internet, and a $30 water fee.

Situated in West Philadelphia’s University City District, Spruce Hill is a charming neighborhood teeming with historic residences, multicultural eateries, and lush spruce trees. The scenic Clark Park serves as a tranquil reprieve from Spruce Hill’s dynamic urban environment, as well as a host to plenty of popular community events.

Close proximity to numerous hospitals and universities, including the prestigious University of Pennsylvania and Drexel University, makes the neighborhood a top choice for a diverse range of residents. Spruce Hill boasts a walkable environment along with convenient access to SEPTA bus routes and trolley lines. Center City sits just three miles east of the neighborhood, providing residents with a bevy of metropolitan amenities.

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