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    1309 52Nd St Philadelphia, PA 19143

    For Sale
    $1,250,000

    5-Unit Apartment Building, 7.44% Cap Rate

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This exceptional Class A, 5-unit apartment building in Philadelphia's University City (19143 zip code) presents a compelling investment opportunity. Built in 2021 as ground-up new construction, this property boasts a 7.44% cap rate and a strong NOI of $92,962. Each of the five units features two bedrooms and two full bathrooms, complete with a full appliance package, in-unit washer/dryer, built-in surround sound, and security systems. Four of the five units are currently rented. The property benefits from an eight-year remaining tax abatement, significantly reducing annual real estate taxes (less than $500 annually). Its prime location near Penn Medicine University City, Children's Hospital of Philadelphia, and the University of Pennsylvania ensures high occupancy and strong rental demand. The meticulously maintained building offers classic charm and exceptional curb appeal. The open floor plans, abundant natural light, and contemporary finishes create an inviting atmosphere for tenants. This multi-family investment offers enduring value and significant growth potential in a rapidly developing neighborhood. The asking price is $1,250,000, or $250,000 per unit. The permitted zoning is multi-family.

    Property Features for 1309 52Nd St

    General Information

    Property type
    Multifamily properties
    Class
    A

    Building Details

    Year Built
    2021
    Units
    5

    HighLights

    • 8 years remaining on a 100% real estate tax abatement.
    • Low annual real estate taxes (under $500) due to the abatement.
    • 7.25% cap rate.
    • 4 of 5 units currently leased (fifth unit under lease).
    • Each unit features a full appliance package, in‑unit washer/dryer, security system, built‑in surround sound, and smart thermostat.
    • Excellent location near Penn Medicine, Children's Hospital of Philadelphia, and the University of Pennsylvania.
    Property Profile Location Intelligence

    Current Use by Public Records

    VKM Wear Baby Clothing Store

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market 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
    -75.2195827
    Latitude
    39.9414627

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    FAQs

    What type of property is this?
    Multifamily property - 5-Unit Apartment Building, 7.44% Cap Rate
    Where is this multifamily property located?
    The property is located at 1309 52Nd St Philadelphia, PA.
    What is the asking price?
    The asking price for this property is $1,250,000.
    What are key features of this property?
    This property features: 8 years remaining on a 100% real estate tax abatement.; Low annual real estate taxes (under $500) due to the abatement.; 7.25% cap rate.
    Request Owner's contact information
    1309 52Nd St Philadelphia, PA 19143
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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
    1309 52Nd St Philadelphia, PA 19143
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