1701 N 20th St, Philadelphia, PA 19121

Building Details

Year Built

1915

Listing agent Jarrell James License #RS345750

Listing office KW Empower

Listing date Mar 27, 2023

Source Crexi

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

All listing content including descriptions, pricing, images are the copyrighted material of KW Empower

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Overview

Located in Philadelphia, this property at 1701-3 N 20th St features 12 units, comprising a mix of 5 studios, 1 one-bedroom, 3 two-bedroom, and 2 three-bedroom units, along with 2 four-bedroom units. The four-bedroom units are rented by the room. The property is currently generating income, with only 2 vacancies. The gross annual rental income is $135,732, with a monthly rental income of $11,311. The net operating income is $101,799 per year, resulting in a cap rate of 7.27%. Situated in a thriving neighborhood, the property is near supermarkets such as Aldi and H Mart, an abundance of restaurants, cafes, and bars, parks and green spaces, and has convenient public transit access. It is also located minutes from Temple University and other schools. The property is suitable for students, young professionals, and families, with the neighborhood's amenities supporting steady occupancy.

Suggested Use

Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Skin Care Clinic

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

• Map
• Local Demand

City

Philadelphia

County

Delaware

State

Pennsylvania

Longitude

-75.1779898

Latitude

39.9303724

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FAQs

What type of property is this?

Apartment building - 12-unit property near universities with strong income potential.

Where is this apartment building located?

The property is located at 1701 N 20th St Philadelphia, PA.

What is the asking price?

The asking price for this property is $1,400,000.

What are key features of this property?

This property features: High 7.27% Cap Rate, indicating strong income potential.; Significant Cash Flow Opportunity with a Net Operating Income (NOI) of $101,799 per year.; Mix of unit sizes caters to a diverse tenant base.