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1228-1230 South 2nd Street 2 Multifamily Properties Offered at $1,801,540 CAD in Philadelphia, PA
INVESTMENT HIGHLIGHTS
- Strong Pennsport Location: Excellent Walkability, Abundant Neighborhood Amenities, and Low Turnover
- Attractive Unit Mix: 70% Two-Bedroom Units and 30% One-Bedroom Units
- Significant Rental Upside: Increase Rents 10% with Little to No Work Needed
- Strong Historical Occupancy and In-Place Cash Flow: Historically Well Occupied, with Minimal Turnover
- Low Expense Ratio: 33% Expense Ratio; Operational Efficiencies Already In-Place
- Access to Major Thoroughfares: Immediate Proximity to I-95, I-676, I-76, and S. Columbus Boulevard
EXECUTIVE SUMMARY
Global Real Estate Advisors (GREA) is pleased to present the opportunity to acquire the fee simple interest in 1228 South 2nd Street & 1230 South 2nd Street (aka 1231 S. Philip Street), a boutique 7-unit multifamily property located in the heart of Pennsport, a desirable and rapidly gentrifying residential neighborhood in South Philadelphia. The Property offers investors an attractive entry point into a strong neighborhood known for low vacancy, strong demographics, and sustained rental demand.
The Property features a well-balanced mix of (5) two-bedroom/one-bath rental units and (2) one-bedroom/one-bath rental units, with an average monthly in-place rent of $1,468. The layouts cater to a diverse renter base, including young professionals, couples, and small families. In-place rents range from $1,550 to $1,700 for the one-bedroom units and $1,440 to $1,700 for the two-bedroom units, providing measurable room for repositioning or incremental increases through turnover.
As a turnkey multifamily asset in a quality location, 1228-1230 South 2nd Street presents a compelling opportunity for investors seeking rental upside, high tenant demand, and future appreciation driven by a neighborhood that has benefited from Philadelphia’s development boom.
The Property features a well-balanced mix of (5) two-bedroom/one-bath rental units and (2) one-bedroom/one-bath rental units, with an average monthly in-place rent of $1,468. The layouts cater to a diverse renter base, including young professionals, couples, and small families. In-place rents range from $1,550 to $1,700 for the one-bedroom units and $1,440 to $1,700 for the two-bedroom units, providing measurable room for repositioning or incremental increases through turnover.
As a turnkey multifamily asset in a quality location, 1228-1230 South 2nd Street presents a compelling opportunity for investors seeking rental upside, high tenant demand, and future appreciation driven by a neighborhood that has benefited from Philadelphia’s development boom.
PROPERTY FACTS
| Price | $1,801,540 CAD | Number of Properties | 2 |
| Price / SF | $395.77 CAD / SF | Individually For Sale | 0 |
| Cap Rate | 6.30% | Total Building Size | 4,552 SF |
| Sale Type | Investment | Total Land Area | 0.05 AC |
| Status | Active |
| Price | $1,801,540 CAD |
| Price / SF | $395.77 CAD / SF |
| Cap Rate | 6.30% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 4,552 SF |
| Total Land Area | 0.05 AC |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
|---|---|---|---|---|
| 1228-30 S 2nd st, Philadelphia, PA 19147 | Multifamily | 3,112 SF | 1915 | - |
| 1231 S Philip St, Philadelphia, PA 19147 | Multifamily | 1,440 SF | 1920 | - |
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1228-1230 South 2nd Street
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