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2214 W Ontario St
Philadelphia, PA 19140
Multifamily Property For Sale
·
63 Units
Investment Highlights
- Projected Gross Rent: $1,012,200 annually.
- Average one-bed is 575 square feet and average two-bed is 1,100 square feet.
- Upon completion of construction and stabilization, COC is 119% and ROI is 42.62%.
- 64-unit property consisting of one & two-bedroom apartments.
- 40 parking spaces with no Low-Income Housing Requirements.
Executive Summary
Jump into your next development project, which is truly shovel-ready.
Projected Gross Rent: $1,012,200 annually with a solid 6%+ Cap rate. 64 Dwelling Units: 52 one-bed/ one-bath, 11 two-bed/ one-bath & one office space. 40 accessory surface parking spaces (including two van-accessible spaces and three electric vehicle parking spaces), and 21 Class 1A bicycle parking spaces. No low-income housing requirement. An adaptive reuse project, with Completed Engineer Reports for the foundation and facade.
All necessary documents, including plans, permits, reports, and surveys, will be provided to the buyer upon payment to the architect of $75,000 to release the plans. Don't miss this opportunity to invest in a lucrative real estate venture with minimal hassle!
Projected Gross Rent: $1,012,200 annually with a solid 6%+ Cap rate. 64 Dwelling Units: 52 one-bed/ one-bath, 11 two-bed/ one-bath & one office space. 40 accessory surface parking spaces (including two van-accessible spaces and three electric vehicle parking spaces), and 21 Class 1A bicycle parking spaces. No low-income housing requirement. An adaptive reuse project, with Completed Engineer Reports for the foundation and facade.
All necessary documents, including plans, permits, reports, and surveys, will be provided to the buyer upon payment to the architect of $75,000 to release the plans. Don't miss this opportunity to invest in a lucrative real estate venture with minimal hassle!
Property Facts
| Price Per Unit | $60,753 CAD | Building Class | B |
| Sale Type | Investment | Lot Size | 0.91 AC |
| Sale Condition | Building in Shell Condition | Building Size | 68,890 SF |
| No. Units | 63 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1915/2024 |
| Property Subtype | Apartment | Parking Ratio | 0.58/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | I2 | ||
| Price Per Unit | $60,753 CAD |
| Sale Type | Investment |
| Sale Condition | Building in Shell Condition |
| No. Units | 63 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.91 AC |
| Building Size | 68,890 SF |
| No. Stories | 3 |
| Year Built/Renovated | 1915/2024 |
| Parking Ratio | 0.58/1,000 SF |
| Zoning | I2 |
Amenities
Unit Amenities
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
Property Taxes
| Parcel Number | 884341857 | Improvements Assessment | $2,326,974 CAD |
| Land Assessment | $997,275 CAD | Total Assessment | $3,324,249 CAD |
Property Taxes
Parcel Number
884341857
Land Assessment
$997,275 CAD
Improvements Assessment
$2,326,974 CAD
Total Assessment
$3,324,249 CAD
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