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2146 N Front St 3 Unit Apartment Building $1,185,136 CAD ($395,045 CAD/Unit) 6.75% Cap Rate Philadelphia, PA 19122



INVESTMENT HIGHLIGHTS
- 4 units - New construction with High end finishes, great layouts, roofeck making it very easy to lease
- Fully leased with $6,150/M in rental income
- Turnkey and very low maintenance with Full management available
- 10 year real estate tax abatement with taxes being $215/year only which allows you to pay down your equity faster
- In the middle of the fastest growing areas of the city with tons of new construction and new restaurants opening up very frequently.
EXECUTIVE SUMMARY
Experience modern living and smart investing with this newly built property, offering three well-designed residential units plus a commercial storefront in the vibrant heart of Norris Square. This opportunity is perfect for a buy-and-hold investor or a homeowner-occupant (eligible for just 5% down). When fully leased, the property generates $6,150 per month in actual rental income. Currently, Unit 3 has been intentionally left vacant to accommodate buyers who may want to live on site while collecting rent from the other units. With 9 years remaining on the tax abatement, the fast growing and appreciating location and minimal upkeep required, this is a low-maintenance, high-return investment that checks all the boxes. Unit 1: A striking bi-level apartment offering two generously sized bedrooms and two full baths, each appointed with stylish tile finishes. Soaring 9-foot ceilings create a spacious atmosphere throughout. The chef’s kitchen is outfitted with 36-inch sleek, flat-panel cabinetry, quartz counters, a modern herringbone backsplash, and premium stainless-steel appliances. A washer and dryer are included for added convenience. The highlight is private access to a large backyard oasis, perfect for relaxation or entertaining. Unit 2: A contemporary 1-bedroom, 1-bathroom flat designed with laminate flooring, 9-foot ceilings, and a dedicated laundry area. The kitchen features streamlined flat-panel cabinetry, a striking herringbone backsplash, stainless-steel appliances, Unit 3: Occupying the top two levels, this penthouse-style residence includes three spacious bedrooms, each paired with its own full bath. The main-floor primary suite boasts ample room for oversized furniture, a walk-in closet, and a spa-like en-suite with a glass-enclosed shower, tiled floors and walls, and modern vanities. The open living area features a bright kitchen with quartz counters, flat-panel cabinetry, stainless appliances, and a signature herringbone backsplash. Oversized windows bring in panoramic city views, The crowning feature: a private roof deck with 360-degree vistas of Center City — an ideal setting for outdoor entertaining. Commercial Space: Well sized, Positioned at street level and collecting rent. This newer construction is located in one of Philadelphia's fastest growing and appreciating neighborhoods ,walkable to some of the city's best restaurants, bars and cafes.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$102,600
|
$29.31
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$102,600
|
$29.31
|
| Taxes |
$300
|
$0.09
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$300
|
$0.09
|
| Net Operating Income |
-
|
-
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $102,600 |
| Annual Per SF | $29.31 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $102,600 |
| Annual Per SF | $29.31 |
| Taxes (CAD) | |
|---|---|
| Annual | $300 |
| Annual Per SF | $0.09 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $300 |
| Annual Per SF | $0.09 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
PROPERTY FACTS
| Price | $1,185,136 CAD | Building Class | C |
| Price Per Unit | $395,045 CAD | Lot Size | 0.03 AC |
| Sale Type | Investment | Building Size | 3,500 SF |
| Cap Rate | 6.75% | Average Occupancy | 100% |
| Sale Condition | 1031 Exchange | No. Stories | 4 |
| No. Units | 3 | Year Built | 2024 |
| Property Type | Multifamily | Opportunity Zone |
Yes
|
| Property Subtype | Apartment | ||
| Zoning | CMX-2 - zoning is for neighborhood-serving retail and service uses. It allows for a mix of commercial and residential uses, with some requiring special permits | ||
| Price | $1,185,136 CAD |
| Price Per Unit | $395,045 CAD |
| Sale Type | Investment |
| Cap Rate | 6.75% |
| Sale Condition | 1031 Exchange |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.03 AC |
| Building Size | 3,500 SF |
| Average Occupancy | 100% |
| No. Stories | 4 |
| Year Built | 2024 |
| Opportunity Zone |
Yes |
| Zoning | CMX-2 - zoning is for neighborhood-serving retail and service uses. It allows for a mix of commercial and residential uses, with some requiring special permits |
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Walk Score®
Very Walkable (88)
Bike Score®
Very Bikeable (80)
PROPERTY TAXES
| Parcel Number | 871000271 | Total Assessment | $168,909 CAD (2025) |
| Land Assessment | $168,909 CAD (2025) | Annual Taxes | $300 CAD ($0.09 CAD/SF) |
| Improvements Assessment | $0 CAD (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
871000271
Land Assessment
$168,909 CAD (2025)
Improvements Assessment
$0 CAD (2025)
Total Assessment
$168,909 CAD (2025)
Annual Taxes
$300 CAD ($0.09 CAD/SF)
Tax Year
2024
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2146 N Front St
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