2010 8Th St Philadelphia, PA 19122
- Commercial real estate
Current Use by Public Records
- Commercial real estate
Property Details for 2010 8Th St
- Year built
- 2020
- Property type
- Commercial real estate
Description
This exceptional Philadelphia investment opportunity presents two newly constructed, three-story buildings, each containing two spacious duplex units. Located near Temple University, this property boasts a prime location in a rapidly growing area, attracting both students and professionals. The four units, each featuring three bedrooms and three bathrooms, offer modern amenities including in-unit washer/dryer, central air conditioning, and dishwashers. Two units are currently vacant, providing immediate leasing potential or the flexibility for customization. Each building's "A" unit enjoys exclusive backyard access. Built in 2020, the property is classified as a Class B multifamily building and benefits from approximately six years of remaining tax abatement. With a 50% occupancy rate, a net operating income (NOI) of $48,600, and an asking price of $1,190,000, this property offers a 4.08% cap rate and a price per unit of $297,500. The combination of modern amenities, a desirable location, and vacant units makes this a lucrative investment opportunity with significant rental income potential. The property is situated on a parcel spanning from street to street in Philadelphia, PA, zip code 19122.
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
- -75.1475492
- Latitude
- 39.9823155
