2028 Fletcher St Philadelphia, PA 19125
- Commercial real estate
- 3,011 SF
Current Use by Public Records
- Commercial real estate
Property Details for 2028 Fletcher St
- Year built
- 2018
- Property size
- 3,011 SF
- Property type
- Commercial real estate
Description
This exceptional Class A, three-story apartment building, constructed in 2018, presents a compelling investment opportunity in Philadelphia's desirable Fishtown/East Kensington neighborhood. Boasting 3,011 square feet, the property features three spacious two-bedroom, two-bathroom units, each meticulously designed with modern amenities. Upgrades include in-unit washer/dryers, full kitchens equipped with dishwashers, ample counter and cabinet space, bar stools, and LED lighting. The bathrooms showcase beautiful, modern tile and space-saving niches. Currently operating at 100% occupancy since June 1, 2024, this stabilized investment offers a strong 6.95% cap rate and a net operating income (NOI) of $59,055. The asking price is $850,000, translating to $282.30 per square foot and $283,333.33 per unit. The property benefits from a full tax abatement with over four years remaining, significantly reducing operating costs. Located at 2028 E Fletcher St, Philadelphia, PA 19125, this turnkey triplex is zoned RM-1 and represents a rare opportunity to acquire a like-new, high-performing asset in a thriving urban location. The building's modern design and desirable location ensure strong rental demand and long-term value appreciation.
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
- -75.131396509232
- Latitude
- 39.982747949534
