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    257 46Th St Philadelphia, PA 19139

    Sponsored
    For Sale
    $1,600,000

    8-unit apartment building, value-add opportunity.

    Property size:
    6,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional investment opportunity presents two side-by-side three-story buildings totaling 6,000 square feet situated on a 4,150 square foot lot in Philadelphia, Pennsylvania. The property, located at 257-259 South 46th Street, consists of eight rental units: four two-bedroom apartments, two one-bedroom apartments, and two studio apartments. Each building offers approximately 3,000 square feet of living space. This Class B multifamily property is zoned RTA1 and presents a significant value-add opportunity due to its location within Philadelphia's rapidly growing "Eds & Meds" economy, a powerhouse district encompassing higher education (University of Pennsylvania and Drexel University), healthcare (Children's Hospital of Philadelphia and University of Pennsylvania Health System), and innovation (Schuylkill Yards and Science Center). The property's prime location also benefits from being in the highly sought-after Penn Alexander School catchment (K-8), ensuring consistent rental demand. The asking price for this eight-unit apartment building is $1,600,000. This property offers significant upside potential for investors seeking a strong return in a thriving Philadelphia neighborhood. The original charm of the buildings, combined with the robust rental market, makes this a compelling investment prospect.

    Property Features for 257 46Th St

    General Information

    Property type
    Multifamily properties
    Square Feet
    6,000 SF
    Class
    B

    Building Details

    Buildings
    2
    Stories
    3
    Units
    8

    HighLights

    • Located in the Penn Alexander School catchment (K‑8).
    • Situated in Philadelphia's thriving "Eds & Meds" economy, near universities and hospitals.
    • Prime location in Philadelphia's highest‑growth rental submarket.
    • Value‑add opportunity: Two side‑by‑side three‑story buildings, totaling 6,000 square feet on a 4,150 square foot lot, with eight rental units (four 2BR, two 1BR, two studios), listed at $1,600,000.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    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
    -75.2137712
    Latitude
    39.9536163

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    FAQs

    What type of property is this?
    Multifamily property - 8-unit apartment building, value-add opportunity.
    Where is this multifamily property located?
    The property is located at 257 46Th St Philadelphia, PA.
    What is the asking price?
    The asking price for this property is $1,600,000.
    What are key features of this property?
    This property features: Located in the Penn Alexander School catchment (K-8).; Situated in Philadelphia's thriving "Eds & Meds" economy, near universities and hospitals.; Prime location in Philadelphia's highest-growth rental submarket.
    Request Owner's contact information
    257 46Th St Philadelphia, PA 19139
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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
    257 46Th St Philadelphia, PA 19139
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