Mixed-Use Apartment and Retail
For Sale
$11,999,999
232844 N 2nd Street, Philadelphia, PA 19133
Newly constructed, elevator-served apartment building with 3,750 square feet of ground-floor retail and resident amenities.
Property SizeContact for details
Days on Market95
Property Features for 232844 N 2nd Street
General Information
Standard status
Active
Property subtype
Commercial
Lease Term
[]
Building Details
Year Built
2023
Listing Agency:
KW Empower
Listed By:
Jim Onesti · License #RS224457L
(215) 627-3500
Source:
Deepcreeklake
Added: Jun 1
Changed: Sep 3
Last Checked: Sep 2 at 8:06PM
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
Investment Insights
Based on property information with market context.
Delivered in 2023, this newly constructed mixed-use asset includes a 33-unit, elevator-served apartment building alongside 3,750 square feet of ground-floor commercial space. The residential component features in-unit laundry for every apartment, with a rooftop deck and resident lounge. A 10-year, 100% improvement tax abatement is in place, contributing to the property’s institutional-style finish and operating structure. Residential occupancy is reported at 88%, and 17 units operate under a corporate master lease with Live Work Stay LLC through July 2027.
The commercial space totals 3,750 square feet across two ground-floor retail suites. The offering also includes four adjacent residentially zoned parcels (RSA-5) along North Philip Street, each approximately 1,441 square feet, conditionally approved for townhome development.
For buyers underwriting the opportunity, market rent information provided is $2,150–$2,400 per month for 2-bedroom units, and stabilization is described with an NOI target of $603,000 annually and an income capitalization approach value of $11,075,000. Taxes and square footage are the responsibility of the buyer to verify independently.
The commercial space totals 3,750 square feet across two ground-floor retail suites. The offering also includes four adjacent residentially zoned parcels (RSA-5) along North Philip Street, each approximately 1,441 square feet, conditionally approved for townhome development.
For buyers underwriting the opportunity, market rent information provided is $2,150–$2,400 per month for 2-bedroom units, and stabilization is described with an NOI target of $603,000 annually and an income capitalization approach value of $11,075,000. Taxes and square footage are the responsibility of the buyer to verify independently.
Key Highlights
- 2023‑built, elevator‑served 33‑unit apartment building with 3,750 SF of ground‑floor commercial space
- Includes rooftop deck, resident lounge, and in‑unit laundry in every apartment
- 88% residential occupancy; 17 units under a corporate master lease with Live Work Stay LLC through July 2027
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
601
Businesses Nearby
Explore this area
Business Placement
Demographics for 19133, PA
24,772
Population
10,766
Households
2.3
Avg Household Size
34
Median Age
7%
College-Educated
63%
High-School Grad
1.3 sq mi
ZIP Area
19,055
Density / Sq Mi
$31,756
Median Household Income
$26,563
Median Earnings
$919
Median Rent
$85,100
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?
Mixed-use property - Newly constructed, elevator-served apartment building with 3,750 square feet of ground-floor retail and resident amenities.
Where is this mixed-use property located?
The property is located at 232844 N 2nd Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $11,999,999.
What are key features of this property?
This property features: 2023‑built, elevator‑served 33‑unit apartment building with 3,750 SF of ground‑floor commercial space; Includes rooftop deck, resident lounge, and in‑unit laundry in every apartment; 88% residential occupancy; 17 units under a corporate master lease with Live Work Stay LLC through July 2027
