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… Read More 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. Read Less
Courtesy of Gazi Ataseven, HomeSmart Realty Advisors. 215-604-1191.
Listing Snapshot
Days Online
152
Last Updated
Property Type
Commercial
Square Ft.
12,000
Lot Size
0.06 Acres
Year Built
2023
MLS Number
PAPH2569690
Additional Details
Building
Built in 2023, Construction Materials: Brick
Cooling
Central A/C
Accessibility Features
None
Heating
90% Forced Air
Income
Gross Income: $248,568, Net Operating Income: $232,191
This information is provided exclusively for consumers' personal, non-commercial use; that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that data is deemed reliable but is not guaranteed accurate by BrightMLS. Information may appear from many brokers but not every listing in BrightMLS is available. This content last updated on .
Confirm your time
Fill in your details and we will contact you to confirm a time.