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    1701 20Th St Philadelphia, PA 19121

    Sponsored
    For Sale
    $1,400,000

    Value-add multifamily investment opportunity.

    Property size:
    8,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    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.

    Property Features for 1701 20Th St

    General Information

    Property type
    Multifamily properties
    Square Feet
    8,000 SF
    Class
    C
    Lot Size
    3,441 SF

    Building Details

    Year Built
    1915
    Buildings
    2
    Stories
    3
    Units
    12

    HighLights

    • 12‑unit apartment building in prime Philadelphia location near Temple and Drexel Universities.
    • Mix of one-, two-, and four‑bedroom units.
    • 7.31% cap rate, with potential to reach 9.34% at full occupancy.
    • Significant potential for increased rental income through value‑add improvements.
    • Strong cash flow investment with a current NOI of $102,294 and projected NOI of $130,716 at full occupancy.
    • Excellent location near public transportation, universities, and numerous amenities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duran's Mini Market Grocery Store

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Philadelphia
    County
    Philadelphia
    State
    Pennsylvania
    Longitude
    -75.1670951
    Latitude
    39.9803141

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    FAQs

    What type of property is this?
    Multifamily property - Value-add multifamily investment opportunity.
    Where is this multifamily property located?
    The property is located at 1701 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: 12-unit apartment building in prime Philadelphia location near Temple and Drexel Universities.; Mix of one-, two-, and four-bedroom units.; 7.31% cap rate, with potential to reach 9.34% at full occupancy.
    Request Owner's contact information
    1701 20Th St Philadelphia, PA 19121
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1701 20Th St Philadelphia, PA 19121
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