2220 Delancey St Philadelphia, PA 19103
- Apartment buildings
- 3,105 SF
Current Use by Public Records
- Apartment buildings
Property Details for 2220 Delancey St
- Year built
- 1900
- Property size
- 3,105 SF
- Property type
- Apartment buildings
Description
This exceptional 5-unit apartment building, located at 2220 Delancey Street in Philadelphia's desirable Fitler Square neighborhood, presents a compelling investment opportunity. The property, a beautifully renovated three-story brownstone built in 1900, boasts a total of 3,105 square feet on a 1,621 square foot lot (APN 88-1527715). The unit mix includes one studio and four one-bedroom apartments, each featuring recent upgrades such as stainless steel appliances, subway tile backsplashes, white shaker cabinetry, and upgraded showers. These modern amenities are seamlessly integrated with the building's historic charm. The property's strategic location offers unparalleled access to major highways (I-76, I-676, and I-95), placing tenants within easy reach of Center City and University City, home to major employers like Comcast, Aramark, and the University of Pennsylvania Health System. Residents also enjoy proximity to Rittenhouse Square, Fitler Square, and the Schuylkill River Trail, providing abundant green space. The strong tenant base benefits from a vibrant neighborhood with numerous restaurants, coffee shops, and nightlife options. This turnkey investment offers a 6.00% pro-forma cap rate and is priced at $1,300,000 ($260,000 per unit). The property is zoned RM-1. This is a rare opportunity to acquire a high-performing asset in a thriving Philadelphia location.
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
- -75.1789
- Latitude
- 39.948
