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2020 N 22nd St
Philadelphia, PA 19121
Multifamily Property For Sale
·
15 Units
INVESTMENT HIGHLIGHTS
- STABILIZED TURN IN KEY 15 UNITS CLASS A MULTIFAMILY
- LOW MAINTENANCE AND APPROVED 10 YEARS TAX ABATEMENT
- 90% OCCUPIED
EXECUTIVE SUMMARY
PRIME INVESTMENT OPPORTUNITY – TURN-KEY 2-YEAR-OLD NEW CONSTRUCTION 15-UNIT BUILDING (13 UNITS RENTED)
RARE CHANCE TO ACQUIRE A MODERN, HIGH-END NEW CONSTRUCTION MULTIFAMILY ASSET DELIVERING STRONG IMMEDIATE CASH FLOW AND LONG-TERM UPSIDE. THIS 2-YEAR-OLD, 15-UNIT BUILDING IS 90% LEASED WITH 13 UNITS OCCUPIED BY QUALITY TENANTS, ENSURING STABLE AND CONSISTENT RENTAL INCOME FROM DAY ONE.
PROPERTY HIGHLIGHTS (INVESTOR FOCUSED)
• 15-UNIT NEW CONSTRUCTION (BUILT 2022)
• 13 UNITS RENTED – IMMEDIATE CASH FLOW
• 10-YEAR TAX ABATEMENT – ONLY $2,750 YEARLY PROPERTY TAX
• PREMIUM UNIT MIX – STUDIO, 1-BED, 2-BED
• LUXURY FINISHES – QUARTZ KITCHENS, STAINLESS STEEL APPLIANCES
• CUSTOM TILE BATHS + IN-UNIT LAUNDRY
• ENERGY-EFFICIENT & FULLY SPRINKLERED
• SEPARATE UTILITIES – LOWER OPERATING EXPENSES
• SECURE ENTRY + CAMERA SYSTEM
• LOW MAINTENANCE / MINIMAL CAPEX FOR YEARS
STRONG OPERATING PERFORMANCE
• HIGH RENTAL DEMAND – TOP-OF-MARKET RENTS
• MODERN MECHANICALS – REDUCED REPAIRS
• IDEAL FOR PASSIVE OWNERSHIP OR VALUE-ADD STRATEGY
• SIGNIFICANT RENT GROWTH & APPRECIATION POTENTIAL
• LOW PROPERTY TAXES DRAMATICALLY IMPROVE CASH FLOW
LOCATION ADVANTAGES
• RAPIDLY DEVELOPING, HIGH-DEMAND RENTAL AREA
• SURROUNDED BY NEW CONSTRUCTION, UNIVERSITIES & MAJOR EMPLOYERS
• WALKABLE TO PUBLIC TRANSIT, RETAIL, AND COMMUNITY AMENITIES
• STRONG AREA APPRECIATION + FUTURE DEVELOPMENT PIPELINE
INVESTMENT SUMMARY
A TURN-KEY, CASH-FLOWING, LUXURY MULTIFAMILY BUILDING WITH EXTREMELY LOW PROPERTY TAXES THANKS TO A 10-YEAR ABATEMENT. PERFECT FOR 1031 BUYERS, PORTFOLIO EXPANSION, OR LONG-TERM WEALTH BUILDING WITH STRONG OCCUPANCY AND MEANINGFUL UPSIDE.
RARE CHANCE TO ACQUIRE A MODERN, HIGH-END NEW CONSTRUCTION MULTIFAMILY ASSET DELIVERING STRONG IMMEDIATE CASH FLOW AND LONG-TERM UPSIDE. THIS 2-YEAR-OLD, 15-UNIT BUILDING IS 90% LEASED WITH 13 UNITS OCCUPIED BY QUALITY TENANTS, ENSURING STABLE AND CONSISTENT RENTAL INCOME FROM DAY ONE.
PROPERTY HIGHLIGHTS (INVESTOR FOCUSED)
• 15-UNIT NEW CONSTRUCTION (BUILT 2022)
• 13 UNITS RENTED – IMMEDIATE CASH FLOW
• 10-YEAR TAX ABATEMENT – ONLY $2,750 YEARLY PROPERTY TAX
• PREMIUM UNIT MIX – STUDIO, 1-BED, 2-BED
• LUXURY FINISHES – QUARTZ KITCHENS, STAINLESS STEEL APPLIANCES
• CUSTOM TILE BATHS + IN-UNIT LAUNDRY
• ENERGY-EFFICIENT & FULLY SPRINKLERED
• SEPARATE UTILITIES – LOWER OPERATING EXPENSES
• SECURE ENTRY + CAMERA SYSTEM
• LOW MAINTENANCE / MINIMAL CAPEX FOR YEARS
STRONG OPERATING PERFORMANCE
• HIGH RENTAL DEMAND – TOP-OF-MARKET RENTS
• MODERN MECHANICALS – REDUCED REPAIRS
• IDEAL FOR PASSIVE OWNERSHIP OR VALUE-ADD STRATEGY
• SIGNIFICANT RENT GROWTH & APPRECIATION POTENTIAL
• LOW PROPERTY TAXES DRAMATICALLY IMPROVE CASH FLOW
LOCATION ADVANTAGES
• RAPIDLY DEVELOPING, HIGH-DEMAND RENTAL AREA
• SURROUNDED BY NEW CONSTRUCTION, UNIVERSITIES & MAJOR EMPLOYERS
• WALKABLE TO PUBLIC TRANSIT, RETAIL, AND COMMUNITY AMENITIES
• STRONG AREA APPRECIATION + FUTURE DEVELOPMENT PIPELINE
INVESTMENT SUMMARY
A TURN-KEY, CASH-FLOWING, LUXURY MULTIFAMILY BUILDING WITH EXTREMELY LOW PROPERTY TAXES THANKS TO A 10-YEAR ABATEMENT. PERFECT FOR 1031 BUYERS, PORTFOLIO EXPANSION, OR LONG-TERM WEALTH BUILDING WITH STRONG OCCUPANCY AND MEANINGFUL UPSIDE.
PROPERTY FACTS
| Price Per Unit | $275,462 CAD | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | B |
| Cap Rate | 6.94% | Lot Size | 0.06 AC |
| Sale Condition | 1031 Exchange | Building Size | 17,000 SF |
| No. Units | 15 | Average Occupancy | 90% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 2023 |
| Zoning | RM-1 | ||
| Price Per Unit | $275,462 CAD |
| Sale Type | Investment |
| Cap Rate | 6.94% |
| Sale Condition | 1031 Exchange |
| No. Units | 15 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.06 AC |
| Building Size | 17,000 SF |
| Average Occupancy | 90% |
| No. Stories | 3 |
| Year Built | 2023 |
| Zoning | RM-1 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Washer/Dryer
- Heating
- Stainless Steel Appliances
- Smoke Free
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Security System
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 15 | - | - |
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