2243 Broad St Philadelphia, PA 19132-4502

Property Details for 2243 Broad St

Lot size

0.06 lot acres

Zone code

CMX2.5

Property type

Commercial land

APN

88-5-4388-20

APU

885438820

Description

This exceptional Class A, 4-story apartment building in Philadelphia, PA, presents a compelling investment opportunity. Located at 2243 N Broad St, this 2023-built property boasts 10 well-appointed units, each offering contemporary living spaces. The expansive layout, spanning from Broad Street to N Watts Street, includes two entrances and two interior staircases for convenient access. Adding to its appeal is a dedicated commercial space, perfect for additional income, and eight spacious storage rooms for tenant convenience. Residents enjoy a shared rooftop deck with stunning city views. The property benefits from approximately 9.5 years remaining on a tax abatement, significantly enhancing its long-term investment value. With a total of 11,000 square feet, a 6.62% cap rate, and a net operating income (NOI) of $139,067, this building offers a strong return on investment. The asking price is $2,100,000, or $210,000 per unit. Its prime location near Temple University ensures high occupancy rates and strong rental demand. This is a rare opportunity to acquire a newly constructed, high-quality multifamily property in a thriving Philadelphia neighborhood.