37-Unit Multifamily Investment
For Sale
Contact for pricing
Pending
230 East Sharpnack Street, Philadelphia, PA 19119
Value-add multifamily property in Northwest Philadelphia with income growth potential.
Property Size22,705 SF
Days on Market106
Property Features for 230 East Sharpnack Street
General Information
Standard status
Pending
Size
22,705 SF
Total Parking Spaces
25
Property subtype
Multifamily
Occupancy
95%
Investment Type
Value Add
Building Details
Buildings
2
Units
37
Tenancy
Multi
Listing Agency:
Trophy Commercial Real Estate
Listed By:
Saam Tashayyod · License #PA RM425803
(215) 608-5745
Source:
Crexi
Added: May 23
Changed: Aug 28
Last Checked: Aug 26 at 3:15PM
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 Trophy Commercial Real Estate
Investment Insights
Based on property information with market context.
This 37-unit multifamily investment property is located in Northwest Philadelphia. The asset consists of two adjacent buildings with a total of approximately 22,705 rentable square feet. It offers immediate scale, stable in-place income, and a defined value-add strategy driven by rent growth. The property features 37 one-bedroom units with consistent unit mix and efficient layouts. There are 25 on-site surface lot parking spots. Ownership has started a renovation program. Capital improvements have been completed, including parking lot resurfacing, roof replacement, and building entry door upgrades. The property generates an in-place Net Operating Income of approximately $208,179, with the ability to achieve approximately $265,554 in stabilized NOI through rent normalization. Average in-place rents are approximately $807 per unit, compared to projected market rents of approximately $978.
Key Highlights
- Significant value‑add opportunity: increase NOI from $208,179 to a potential $265,554 through rent normalization.
- Proven renovation concept already in progress.
- Immediate scale with 37 units and stable in‑place income.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
980
Businesses Nearby
Explore this area
Business Placement
Demographics for 19119, PA
27,265
Population
13,909
Households
2
Avg Household Size
44
Median Age
55%
College-Educated
96%
High-School Grad
3.4 sq mi
ZIP Area
8,019
Density / Sq Mi
$81,609
Median Household Income
$54,598
Median Earnings
$1,291
Median Rent
$326,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Value-add multifamily property in Northwest Philadelphia with income growth potential.
Where is this apartment building located?
The property is located at 230 East Sharpnack Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $3,300,000.
What are key features of this property?
This property features: Significant value‑add opportunity: increase NOI from $208,179 to a potential $265,554 through rent normalization.; Proven renovation concept already in progress.; Immediate scale with 37 units and stable in‑place income.
