2120 Walnut St Philadelphia, PA 19103-4856
- Apartment buildings
- 5,844 SF
- 0.07 lot acres
Current Use by Public Records
- New Rising Sun Spa / Massage Spa
- BeautyInk Inc / Beauty Salon
- T TRIBE / Jewelry Store / Plus Size Clothing Store
- Blondie & Ginger Hair Studio / Hair Salon
Property Details for 2120 Walnut St
- Year built
- 1890
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 0.07 lot acres
- Property size
- 5,844 SF
- Zone code
- RMX3
- Property type
- Apartment buildings
- APN
- 88-1-0283-30
- APU
- 881028330
Description
This exceptional mixed-use property, located at 2120 Walnut Street in Philadelphia, PA 19103, presents a compelling value-add investment opportunity. Situated in the highly desirable Rittenhouse Square neighborhood, this five-story building boasts 7,000-7,500 square feet on a 3,100 square foot lot. The property features eight units: two studios, one one-bedroom, and three two-bedroom apartments, along with two ground floor/mezzanine commercial spaces. Three off-street parking spaces are also included. Currently generating a NOI of $125,000 and a 4.31% cap rate, this property offers significant upside potential due to below-market rents. The RMX-3 zoning allows for various development options. This location provides easy access to premier dining, shopping, and the vibrant energy of downtown Philadelphia. The building's strategic placement within a rapidly developing area, with new residential projects underway, ensures continued growth and increased foot traffic. This is an ideal investment for those seeking to capitalize on the strong rental market and enhance the property's value. The asking price is $2,900,000.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Philadelphia
- County
- Philadelphia
- State
- Pennsylvania
- Longitude
- -75.1769
- Latitude
- 39.9506
- CBSA code
- 37980
- CBSA name
- PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD METROPOLITAN STATISTICAL AREA
