121 W Cumberland Street Philadelphia, PA 19133
Multifamily | 11 Units | $209,091/unit
Marketing description
An 11-unit multifamily property located in the rapidly revitalizing Hartranft neighborhood of Philadelphia. The property offers investors the opportunity to acquire a stabilized, cash-flowing asset with solid in-place rents and low operating expenses.
The building features a unit mix of nine (9) two-bedroom units and two (2) three-bedroom units, totaling approximately 9,372 rentable square feet. The asset provides steady income with an attractive projected return profile. With average rents of approximately $1,609 per unit and a unit mix that appeals to both families and shared housing, the property is well-positioned for sustained rental demand.
At a projected purchase price of $2,300,000, the investment offers a 7.29% cap rate, strong in-place cash flow, and a projected 7.05% cash-on-cash return, making it an attractive opportunity for investors seeking stable yield in a growing Philadelphia submarket.
Investment highlights
- STABILIZED 11-UNIT MULTIFAMILY ASSET – Well-performing apartment building with stable occupancy and strong in-place income.
- ATTRACTIVE YIELD PROFILE – Projected 7.29% cap rate at the $2,300,000 offering price.
- STRONG CASH FLOW – Projected $48,663 annual cash flow after debt service.
- FAMILY-ORIENTED UNIT MIX – Nine (9) 2BR units and two (2) 3BR units provide broad tenant demand.
- STRONG AVERAGE RENT – Average monthly rent of approximately $1,609 per unit.
- EFFICIENT EXPENSE RATIO – Operating expenses represent only 20.9% of effective gross income.
- PHILADELPHIA WORKFORCE HOUSING DEMAND – Continued demand for affordable multifamily housing supports long-term occupancy.
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