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Anita Mohamed

stagesite-3.test@chime.me +1(347) 903-3025

$ 1,980,000

Est. payment -/mo

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2243 N BROAD ST Philadelphia, PA 19132

2,718 Sqft Lot

UPDATED:

Key Details

Property Type Commercial

Sub Type Five Or More Units

Listing Status Active

Purchase Type For Sale

Lot Size 2,718 Sqft

MLS Listing ID PAPH2611114

Subdivision Temple University

Short Sale No

Originating MLS BRIGHT

Property Description

Philly CRE is pleased to present a premier investment opportunity: a fully occupied, 11-unit mixed-use property built in 2023, ideally located just steps from Temple University's main campus. Already priced to sell, this asset offers immediate financing upside with a 1.28 DSCR and an exceptional 7.44% cap rate, a rare offering for new construction in today's market. The property generates $184,860 in annual gross income, delivering strong and stable in-place cash flow with additional upside potential in a rapidly appreciating submarket. Consistent rental demand is driven by its proximity to both Temple University and Temple University Hospital, attracting a reliable tenant base of students and healthcare professionals. All residential units are leased to PHA tenants with rents secured, providing predictable and low-risk income from day one. The unit mix includes one studio, eight one-bedroom units, and one two-bedroom unit, along with a ground-floor commercial space, creating a diversified and resilient income stream. The property benefits from a ten-year tax abatement with over six years remaining, significantly reducing operating expenses and enhancing overall returns. It has also recently passed reinspection, offering added confidence in the property's condition and compliance. Built with high-end finishes, each unit features spacious layouts, large bedrooms, and select private balconies that enhance tenant appeal and retention. All units are separately metered and equipped with individual mechanical systems, as well as a unit washer and dryer, minimizing landlord responsibilities and maximizing operational efficiency. As an added incentive, the offering includes one year of free property management, providing immediate operational support and increased net income for investors. Conveniently located near the Broad Street Line and multiple bus routes, the property offers excellent accessibility throughout Philadelphia. Its location within a Qualified Opportunity Zone may also provide additional tax advantages. With high stabilized income, attractive financing metrics, minimal maintenance requirements, and long-term upside, this is a rare opportunity to acquire a high-performing asset in one of Philadelphia's most active and supply-constrained rental corridors. Take advantage of this exceptional opportunity to secure a turnkey, high-yielding investment with built-in management support and long-term growth potential.

Location

State PA

County Philadelphia

Area 19132 (19132)

Zoning CMX 2.5

Interior

Hot Water Electric

Heating Forced Air

Cooling Central A/C

Heat Source Electric

1-purchase type For Sale

Exterior

Waterfront N

Water Access N

Accessibility None

Parking Type On Street

Building

New Construction N

Lot Dimensions 18.00 x 151.00

Sewer Public Sewer

Water Public

Schools

School District Philadelphia City

Others

Tax Amount $1,408

Tax Year 2025

Tax ID 885438820

Ownership Fee Simple

Special Sale Standard

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Listed by ERIC Dvotsky • BHHS Fox & Roach-Center City Walnut

Anita Mohamed

Broker Associate | jhy1aaaaaaaaaaaaaaaa 244410410

+1(347) 903-3025 | stagesite-3.test@chime.me

Anita Mohamed

2243 N BROAD ST Philadelphia, PA 19132

Key Details

Location

Interior

Exterior

Building

Schools

Others

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2243 N BROAD ST