2020-22 N 22ND ST Philadelphia, PA 19121
2,775 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Sub Type Five Or More Units
Listing Status Active
Purchase Type For Sale
Lot Size 2,775 Sqft
MLS Listing ID PAPH2569690
Financing Conventional,Cash,Other
Short Sale No
Originating MLS BRIGHT
Available Date 2026-01-05
Property Description
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 100% LEASED WITH 15 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
State PA
County Philadelphia
Area 19121 (19121)
Zoning RM1
Interior
Hot Water 60+ Gallon Tank
Cooling Central A/C
Heat Source Electric
1-purchase type For Sale
Exterior
Waterfront N
Water Access N
Accessibility None
Parking Type None
Building
New Construction Y
Sewer Public Sewer
Water Public
Schools
School District The School District Of Philadelphia
Others
Tax Amount $178
Tax Year 2021
Tax ID 322095600
Ownership Fee Simple
Acceptable Financing Conventional, Cash, Other
Special Sale Standard
Broker Associate | jhy1aaaaaaaaaaaaaaaa 244410410
+1(347) 903-3025 | stagesite-3.test@chime.me