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619 N 35 Th St

$3,600,000

619 N 35 Th St, Philadelphia, PA 19104

Active
Last Updated: 06/30/2025

7.2

Cap Rate

249,475

NOI

Details:
Cap Rate:    7.2%
NOI:    $249,475
Building Size:    13,822 sqft
Year Built:    1920
Price Per Sqft:    $260.45
Zoning:    CMX2
Highlights:
  • Days on Market: 274
  • Heating: Central
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 1,500 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 $304K, operating expense of $44K, and net income (NOI) of $260K, this property offers a strong 7.2% 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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