825 Corinthian Ave Philadelphia, PA 19130
- Commercial real estate
- 5,280 SF
Current Use by Public Records
- Commercial real estate
Property Details for 825 Corinthian Ave
- Property size
- 5,280 SF
- Property type
- Commercial real estate
Description
This exceptional Class A, fee-simple investment property at 825 Corinthian Ave, Philadelphia, PA 19130, presents a compelling opportunity. The 5-unit apartment building, totaling 5,280 square feet, boasts a strong 80% occupancy rate and a projected gross annual rent of $157,200. Completely renovated in 2021, the three-story building features a mix of studio, one, and two-bedroom apartments, each averaging approximately 650 square feet. The building also includes a ground-floor commercial space, adding to its versatility and income potential. Situated on a 2,062 square foot lot, the property benefits from 38 square feet of available air rights and is zoned CMX1. The current pro-forma NOI stands at $137,091, yielding an attractive 8.84% pro-forma cap rate and an 8.81% current cap rate. Conveniently located two blocks from Fairmount Avenue, a major commercial corridor in Philadelphia, the property offers easy access to amenities, schools, and transportation. Street parking is available. Importantly, there are no low-income or rent-controlled units, ensuring stable and predictable cash flow. A management company is available to oversee the building, providing further convenience for the owner. This property offers significant upside potential for appreciation, given its location and historically stable values in the area. The asking price is $1,550,000.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Philadelphia
- County
- Philadelphia
- State
- Pennsylvania
- Longitude
- -75.170834980443
- Latitude
- 39.970259660167
