1345 York St Philadelphia, PA 19132
- Commercial real estate
- 3,000 SF
Current Use by Public Records
- Commercial real estate
Property Details for 1345 York St
- Year built
- 2023
- Property size
- 3,000 SF
- Property type
- Commercial real estate
Description
This exceptional investment opportunity presents a newly constructed, fully occupied two-unit apartment building in Philadelphia, PA. Located at 1345 W York St, this property boasts a prime location near Temple University's main campus, offering easy access to public transportation via the Broad Street subway and bus lines. The building, completed in 2023, features a total of 3,000 square feet of net rentable space, distributed across two spacious three-bedroom, three-bathroom units. Each unit is currently leased, generating a combined monthly rental income of $3,800, plus a $100 water charge. This translates to a strong net operating income (NOI) of $45,600, resulting in an attractive 7.50% capitalization rate. The property sits on a 960 square-foot lot and is zoned RM-1. The building is three stories tall and benefits from a ten-year tax abatement, significantly enhancing its financial performance. This fee-simple ownership offers a stabilized, multi-family investment with high-end finishes and significant potential for appreciation, making it an ideal addition to any investment portfolio. The asking price is $560,000.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Philadelphia
- County
- Philadelphia
- State
- Pennsylvania
- Longitude
- -75.1548801
- Latitude
- 39.9894425
