230 East Sharpnack Street Philadelphia, PA 19119

Listing agency Trophy Commercial Real Estate s***@trophycommercial.com Show Phone

Listed by Saam Tashayyod · License #PA RM425803

Source Crexi

Added: May 23 Updated: Jul 10 at 1:41PM Checked: Jul 22 at 6:58AM

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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.

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FAQs

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.