$1,175,000
207 & 211 N 63rd Street
Details
APN 341267500
Property Type Retail, Multifamily
Sub Type Apartment Building
Square Footage 7,200
Units 12
Cap Rate 10.32%
NOI $121,316
Tenancy Multi
Year Built 1914
Year Renovated 2025
Buildings 2
Investment Type Owner/User
Ownership Fee Simple
Stabilized, Turn Key, Rent Ready 7 unit and 5 unit building - Best Cash Flow in Philly!
Marketing description
Black Label is pleased to present the exclusive offering of 207 & 211 North 63rd Street two adjacent, fully renovated multifamily buildings in West Philadelphia totaling twelve income-producing units. The portfolio is currently operated as a boutique mid-term rental program, generating strong day-one cash flow without the constraints of long-term leases. Both buildings have been recently rehabbed with new roofs and mechanical systems eliminating the typical capital exposure that follows acquisition of value-add multifamily. The properties are offered for sale individually or as a package buyers may submit offers on either building independently or for the full portfolio.
The portfolio sits on the 200 block of North 63rd Street in West Philadelphia's Cobbs Creek / Haddington corridor a transit-rich neighborhood served by the Market-Frankford Line at 63rd & Market and immediate access to Center City via Market Street. The block features a tight, walkable mix of rowhomes, neighborhood retail, and small multifamily the asset profile demand pulls hardest in this submarket.
Each unit is delivered turn-key and rent-ready finished kitchens, updated bathrooms, refinished flooring throughout, and design-forward accent treatments built specifically for the boutique mid-term rental guest. The interior program is the product of an active operating business, not staging.
Investment highlights
- Yield buyer assumable cash flow from a stabilized mid-term rental operation generating a 27% premium over comparable long-term rents, delivering a 10.3% cap rate at the asking price.
- Conventional multifamily operator converts to long-term rentals at any time and still achieve a 9.7% cap rate; lower revenue is offset by reduced operating expenses (no cleaning, no platform fees) and tenant-paid utilities.
- Developer 207 N 63rd is a street-to-street lot supporting a potential 8–12-unit ground-up apartment development behind the existing structure. 211 sits adjacent to 205, a deep lot offering further density opportunity.
- Immediate Cash Flow Day One The portfolio is operated as a boutique mid-term rental program, generating $17,800/month a 27% premium over comparable long-term rents. There are no long-term leases to assume the buyer inherits a stabilized program with the flexibility to maintain MTR yields, transition to traditional leases, or repurpose entirely.
- New Roofs & Mechanicals No Capex Overhang Both buildings have been completed with new roofs and updated mechanical systems. The two largest capital line items have already been addressed, materially reducing the typical first-five-year capital reserve burden on Philadelphia rowhouse-conversion multifamily.
- Basis Well Below Replacement Cost $97,917 per unit blended significantly below replacement cost in this submarket and well-positioned versus active 19139 trades. A buyer can convert to long-term rentals at any time and still operate on a healthy basis.
- Development Upside Street-To-Street Lot 207 N 63rd is a deep parcel running street-to-street, with capacity to support a potential 8–12-unit ground-up apartment building behind the existing structure. 211 sits adjacent to 205, also a deep lot, allowing for additional unit expansion. Buyer to verify zoning and feasibility, but the bones of a true value-add play are in place.
- Boutique Hotel Operating Playbook Included The seller has built and refined the MTR / boutique hotel operating program pricing strategy, channel mix, cleaning vendors, and turn protocols. This is a transferable system, not a one-off rental setup.
- Submarket Tailwinds West Philadelphia's Cobbs Creek and Haddington corridors continue to draw owner-operator and institutional capital, supported by Market-Frankford Line transit, proximity to UPenn / Drexel / CHOP employment, and ongoing infill development.
- Flexible Deal Structure Individual or Package The buildings are offered for sale individually or as a package. Buyers may pursue 207 N 63rd ($685,000) or 211 N 63rd ($490,000) as standalone acquisitions or acquire the full twelve-unit portfolio in a single transaction. Each building stands on its own as a viable cash-flowing asset.
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Loan Amount
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Annual Debt Service
$--
$--
Annual Cash Flow
$121,316.00
$10,109.67/mo
Valuation Metrics
0
DSCR
10.32%
Cap Rate
10.32%
ROI
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