2 Locations For Sale

A 37-unit value-add multifamily investment located in Northwest Philadelphia. The asset offers immediate scale, stable in-place income, and a clearly defined value-add strategy driven by rent growth. Ownership can also generate additional income by charging for the 25 on-site surface lot spots. Ownership has started the renovation program and proved the concept, allowing for the next owners to continue the process.

At the asking price of $3,300,000, the property generates an in-place Net Operating Income of approximately $208,179 (6.31% cap rate), with the ability to achieve approximately $265,554 in stabilized NOI (8.05% cap rate) through rent normalization.

The property comprises 37 one-bedroom units across two adjacent buildings, totaling approximately 22,705 rentable square feet. The asset features a consistent unit mix, efficient layouts, and a scalable operational profile.

Ownership has recently completed meaningful capital improvements, including parking lot resurfacing, roof replacement, and building entry door upgrades. As a result, future ownership can allocate capital toward income-producing renovations rather than deferred maintenance.

Average in-place rents are approximately $807 per unit, compared to projected market rents of approximately $978, representing a meaningful mark-to-market opportunity and a clear path to revenue growth through lease turnover.