2020 22 N 22 Nd St
$3,000,000
2020 22 N 22 Nd St, Philadelphia, PA 19121
8
Cap Rate
12,000 sqft
Building Size
Details:
Highlights:
- Days on Market: 14
- Heating: 90% Forced Air
Description:
Prime Investment Opportunity – Turn Key 2 Year Old New Construction 15 Unit Multifamily Building
Rare Opportunity To Acquire A Modern, High Quality New Construction Multifamily Asset Delivering Strong Immediate Cash Flow And Long Term Upside. This 2 Year Old, 15 Unit Building Is Approximately 90% Leased With 13 Units Currently Rented, Providing Stable And Consistent Income From Day One.
The Property Benefits From A 10 Year Tax Abatement With Approximately $2,750 In Annual Real Estate Taxes, Significantly Reducing Operating Expenses And Enhancing Net Cash Flow. The Building Features A Desirable Unit Mix Of Studios, One Bedroom, And Two Bedroom Apartments With High End Finishes Throughout, Including Quartz Countertops, Stainless Steel Appliances, Custom Tile Baths, And In Unit Laundry.
Additional Features Include Energy Efficient Systems, Full Sprinkler System, Separate Utilities, Secure Entry, And Camera Systems, Resulting In Low Maintenance And Minimal Near Term Capital Expenditures. Strong Rental Demand Supports Top Of Market Rents With Potential For Future Rent Growth And Appreciation.
Located In A Rapidly Developing, High Demand Rental Area Surrounded By New Construction, Universities, Major Employers, And Public Transportation, This Asset Offers Both Immediate Income And Long Term Value Creation. Ideal For 1031 Exchange Buyers, Portfolio Expansion, Or Investors Seeking A Stabilized, Turn Key Multifamily Opportunity.
Location
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