1701 20Th St Philadelphia, PA 19121

This fee-simple, 12-unit apartment building located at 1701-3 N 20th St, Philadelphia, PA 19121, presents a compelling value-add investment opportunity. The property, situated on a 0.079-acre lot, comprises two three-story buildings totaling 8,000-9,000 square feet and built in 1915. Currently boasting a 57% occupancy rate, the property generates a net operating income (NOI) of $102,294, yielding a 7.31% cap rate based on the $1,400,000 asking price. A pro-forma analysis, assuming 100% occupancy, projects a NOI of $130,716 and a 9.34% cap rate. The unit mix includes a variety of one, two, and four-bedroom apartments, priced at $116,666.67 per unit. The property's location in a vibrant Philadelphia neighborhood near Temple University and Drexel University, coupled with convenient access to public transportation, makes it highly attractive to students and young professionals. While some cosmetic upgrades and minor repairs are needed, the potential for increased rental income and a significantly improved cap rate makes this a strong cash flow investment. The area offers numerous amenities, including supermarkets, restaurants, cafes, bars, parks, and green spaces. This property offers a unique chance to enhance value and capitalize on a strong rental market.