Log In/Sign Up
Your email has been sent.
2440 Kensington Ave 10 Unit Apartment Building $3,038,593 CAD ($303,859 CAD/Unit) 7.31% Cap Rate Philadelphia, PA 19125
Investment Highlights
- STABILIZED 10-UNIT MULTIFAMILY ASSET – Well-performing apartment building with strong in-place occupancy.
- ATTRACTIVE CASH FLOW – Projected $47,665 annual cash flow after debt service.
- STRONG AVERAGE RENT – Average monthly rent of approximately $1,533 per unit.
- STRONG CAP RATE – Projected 7.31% cap rate at the $2,225,000 offering price.
- UNIFORM UNIT MIX – Ten 2-bedroom units providing consistent rental demand.
- PAVED PARKING SPACES – 3 income-producing paved parking spaces.
Executive Summary
A 10-unit multifamily property with a commercial space, located in the rapidly developing Kensington neighborhood of Philadelphia. The asset provides investors with the opportunity to acquire a stabilized apartment building featuring strong current rents and a proven operating history.
The property includes 10 two-bedroom apartments totaling approximately 7,928 square feet of rentable space, a 2,500-square-foot commercial unit, and 3 parking spaces, ensuring consistent rental income and smooth operations. The building’s uniform two-bedroom layout and contemporary design appeal to both roommate households and small families, supporting stable occupancy and rental demand.
At the projected purchase price of $2,225,000, the asset offers investors a 7.31% cap rate and approximately 7.14% cash-on-cash return, providing strong cash flow and the potential for ongoing rental growth as the surrounding neighborhood continues to develop.
The property includes 10 two-bedroom apartments totaling approximately 7,928 square feet of rentable space, a 2,500-square-foot commercial unit, and 3 parking spaces, ensuring consistent rental income and smooth operations. The building’s uniform two-bedroom layout and contemporary design appeal to both roommate households and small families, supporting stable occupancy and rental demand.
At the projected purchase price of $2,225,000, the asset offers investors a 7.31% cap rate and approximately 7.14% cash-on-cash return, providing strong cash flow and the potential for ongoing rental growth as the surrounding neighborhood continues to develop.
Property Facts
| Price | $3,038,593 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $303,859 CAD | Building Class | B |
| Sale Type | Investment | Lot Size | 0.12 AC |
| Cap Rate | 7.31% | Building Size | 10,428 SF |
| Gross Rent Multiplier | 12.1 | No. Stories | 3 |
| No. Units | 10 | Year Built | 2020 |
| Property Type | Multifamily | Opportunity Zone |
Yes
|
| Property Subtype | Apartment | ||
| Zoning | CMX2 | ||
| Price | $3,038,593 CAD |
| Price Per Unit | $303,859 CAD |
| Sale Type | Investment |
| Cap Rate | 7.31% |
| Gross Rent Multiplier | 12.1 |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.12 AC |
| Building Size | 10,428 SF |
| No. Stories | 3 |
| Year Built | 2020 |
| Opportunity Zone |
Yes |
| Zoning | CMX2 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 10 | - | 793 |
1 1
Exceptionally walkable
100/100
Fairly drivable
50/100
Exceptional public transit
90/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 881000740 | Improvements Assessment | $1,373,953 CAD |
| Land Assessment | $343,488 CAD | Total Assessment | $1,717,442 CAD |
Property Taxes
Parcel Number
881000740
Land Assessment
$343,488 CAD
Improvements Assessment
$1,373,953 CAD
Total Assessment
$1,717,442 CAD
1 of 31
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1 of 1
Presented by
2440 Kensington Ave
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.