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150 W Washington Ln

$2,100,000

150 W Washington Ln, Philadelphia, PA 19144

Active
Last Updated: 10/01/2025

10,840 sqft

Building Size

1900

Year Built

Details:
Building Size:    10,840 sqft
Year Built:    1900
Price Per Sqft:    $193.73
Zoning:    RSA2
Roof:    Pitched
Highlights:
  • Days on Market: 65
  • Heating: Forced Air
Description:

144 & 150 Washington Lane, a fully leased 13-unit multifamily investment located in the highly desirable Mount Airy section of Northwest Philadelphia. This ±10,840 SF property consists of two contiguous, separately metered buildings featuring a diversified unit mix of 1-, 2-, and
3-bedroom layouts—ideal for tenant retention and income stability. Situated on an oversized ±25,513 SF lot, the asset delivers strong cash flow from day one with $18,282/month in scheduled rents and minimal deferred maintenance. The in-place CAP rate is 7.09%, with a projected Year 1 return of 8.52%. With current ownership achieving high occupancy and low turnover, this is a turnkey opportunity
for investors seeking passive income in a strong rental corridor.
The property benefits from proximity to the regional rail line, Germantown Avenue retail and restaurants, and other lifestyle amenities. With its strategic location, solid rent roll, and operational efficiency, 144 & 150 Washington Lane represents a high-quality, yield-focused multifamily investment in one of Northwest Philadelphia’s most stable rental markets.

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