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Listed by Or Aharon • Keller Williams Liberty Place
$3,800,000
Est. payment /mo
6,000 Sqft Lot
Active
619 N 35TH ST Philadelphia, PA 19104
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Key Details
Property Type Commercial
Sub Type Five Or More Units
Listing Status Active
Purchase Type For Sale
Subdivision University City
MLS Listing ID PAPH2586226
Year Built 1920
Annual Tax Amount $8,000
Tax Year 2025
Lot Size 6,000 Sqft
Acres 0.14
Lot Dimensions 60.00 x 100.00
Property Sub-Type Five Or More Units
Source BRIGHT
Property Description
Newly constructed multifamily building in University City, just steps from Drexel and UPenn. This fully leased property offers 11 apartments with 33 bedrooms and 33 bathrooms over 1,460 SF of retail space. Each unit features private bathrooms, large living areas, and modern finishes. 10-year tax abatement. With an annual gross income of $322K, operating expense of $67k, and net income (NOI) of $255K, this property offers a strong 6.7% cap rate. Ideal for investors seeking a turnkey asset in a prime, high-demand location — UCITY — the fastest-growing rental submarket in Philadelphia, a Top-10 USA MSA (population) and Top-5 USA MSA for Life Sciences. The Eds & Meds economy powers this district and provides the community with insatiable, perennial rental demand, insulating investment properties for years to come.
Location
State PA
County Philadelphia
Area 19104 (19104)
Zoning CMX2
Interior
Hot Water Electric
Heating Central
Cooling Central A/C
Heat Source Electric
Exterior
Utilities Available Electric Available, Water Available
Water Access N
View City
Accessibility None
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District The School District Of Philadelphia
Others
Tax ID 871600765
Ownership Fee Simple
Special Listing Condition Standard
NEARBY SCHOOL & BUSINESS