2020-22 N 22ND ST, Philadelphia, PA 19121
2020-22 N 22ND ST, Philadelphia, PA 19121
2020-22 N 22ND ST, Philadelphia, PA 19121
2020-22 N 22ND ST, Philadelphia, PA 19121
2020-22 N 22ND ST, Philadelphia, PA 19121
2020-22 N 22ND ST, Philadelphia, PA 19121
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David Burris

David Burris

+1(609) 304-4202
Listed by Gazi Ataseven • HomeSmart Realty Advisors
$ 3,000,000
Est. payment | /mo

2,775 Sqft Lot

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$ 3,000,000
Est. payment | /mo
Save Virtual Tour

2,775 Sqft Lot

Key Details

Property Type Commercial

Sub Type Five Or More Units

Listing Status Active

Purchase Type For Sale

MLS Listing ID PAPH2569690

Year Built 2023

Available Date 2026-01-05

Annual Tax Amount $178

Tax Year 2021

Lot Size 2,775 Sqft

Acres 0.06

Property Sub-Type Five Or More Units

Source BRIGHT

Property Description

PRIME INVESTMENT OPPORTUNITY – TURN-KEY 2-YEAR-OLD NEW CONSTRUCTION 15-UNIT MULTIFAMILY BUILDING
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

Exterior

Water Access N

Accessibility None

Garage N

Building

Sewer Public Sewer

Water Public

New Construction Y

Schools

School District The School District Of Philadelphia

Others

Tax ID 881000196

Ownership Fee Simple

Acceptable Financing Conventional, Cash, Other

Listing Terms Conventional, Cash, Other

Financing Conventional,Cash,Other

Special Listing Condition Standard

Virtual Tour https://vimeo.com/1142104193?share=copy&fl=sv&fe=ci

Bright MLS (BMLS)

NEARBY SCHOOLS & PROPERTIES

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David Burris
David Burris

Principal / Agent License ID: 1973254

+1(609) 304-4202

513 S Lenola Rd, Moorestown, NJ 08057, United States

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2020-22 N 22ND ST

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