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2100 W Tioga St
Philadelphia, PA 19140
Tioga Apartments · Multifamily Property For Sale
·
40 Units
Investment Highlights
- Recent Capital Expenditures on Mechanicals, Roof, Structure, and Windows
- Submarket Anchored by Lewis Katz School of Medicine at Temple University
- Poised to Benefit from Temple University's Growth and Submarket Redevelopment
- On-Site Laundry and Management Suite
- Excellent Access to Area Retail, Interstate 76, Route 1, & Regional Transit
Executive Summary
Marcus & Millichap is pleased to present for sale Tioga Park Apartments, a 41-unit multifamily property, located at 2100 W Tioga Street in the Nicetown-Tioga neighborhood of North Philadelphia. Positioned just west of the Lewis Katz School of Medicine at Temple University, Tioga Park Apartments offers a terri?c central location with tremendous access to public transit and interstate, as well as area employers and local retail.
Tioga Park Apartments is comprised of nine studio apartments, thirty-one one-bedroom apartments, and one three-bedroom apartment that is currently used as an administrative of?ce. The existing rent roll encompasses a mix of market-rate and voucher tenants, with 15 of the 41 tenants in the PHA voucher program.
Tioga Park Apartments has bene?ted from substantial capital improvements aimed at enhancing its appeal, ensuring long-term value and tenant retention. Recent upgrades include a complete rewiring of the electric, water main, domestic hot water, roof, windows, and light in-unit renovations. These investments not only reinforce the property's standing in the North Philadelphia rental market but also position it as a robust opportunity for investors seeking stable income potential combined with additional upside.
Temple University, being the submarket’s major economic driver, has been on an upswing in recent years. Coming off a record-setting fall in applications and admissions, Temple University is poised to continue its growth as it embarks on various capital projects on both its undergraduate and medical college campuses. The University’s growth has attracted local, regional, and national investors’ attention, making the surrounding area a target for continued investment.
Tioga Park Apartments is comprised of nine studio apartments, thirty-one one-bedroom apartments, and one three-bedroom apartment that is currently used as an administrative of?ce. The existing rent roll encompasses a mix of market-rate and voucher tenants, with 15 of the 41 tenants in the PHA voucher program.
Tioga Park Apartments has bene?ted from substantial capital improvements aimed at enhancing its appeal, ensuring long-term value and tenant retention. Recent upgrades include a complete rewiring of the electric, water main, domestic hot water, roof, windows, and light in-unit renovations. These investments not only reinforce the property's standing in the North Philadelphia rental market but also position it as a robust opportunity for investors seeking stable income potential combined with additional upside.
Temple University, being the submarket’s major economic driver, has been on an upswing in recent years. Coming off a record-setting fall in applications and admissions, Temple University is poised to continue its growth as it embarks on various capital projects on both its undergraduate and medical college campuses. The University’s growth has attracted local, regional, and national investors’ attention, making the surrounding area a target for continued investment.
Property Facts
| Price Per Unit | $105,036 CAD | Apartment Style | Mid-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 8.04% | Lot Size | 0.14 AC |
| No. Units | 40 | Building Size | 21,273 SF |
| Property Type | Multifamily | No. Stories | 4 |
| Property Subtype | Apartment | Year Built/Renovated | 1936/2016 |
| Zoning | R9, Philadelphia | ||
| Price Per Unit | $105,036 CAD |
| Sale Type | Investment |
| Cap Rate | 8.04% |
| No. Units | 40 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 21,273 SF |
| No. Stories | 4 |
| Year Built/Renovated | 1936/2016 |
| Zoning | R9, Philadelphia |
Amenities
Unit Amenities
- Air Conditioning
- Tile Floors
- Refrigerator
- Range
- Tub/Shower
- Carpet
- Wheelchair Accessible (Rooms)
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Elevator
- Public Transportation
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 9 | - | 625 |
| 1+1 | 31 | - | 725 |
Property Taxes
| Parcel Number | 881054655 | Improvements Assessment | $2,618,806 CAD |
| Land Assessment | $1,122,345 CAD | Total Assessment | $3,741,152 CAD |
Property Taxes
Parcel Number
881054655
Land Assessment
$1,122,345 CAD
Improvements Assessment
$2,618,806 CAD
Total Assessment
$3,741,152 CAD
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