2337 Alder St Philadelphia, PA 19148
- Commercial real estate
- 4,800 SF
Current Use by Public Records
- Pro Painters Philadelphia / Painter
- Philadelphia Best Pest Removal / Pest Control Service / Animal Control Service
Property Details for 2337 Alder St
- Property size
- 4,800 SF
- Property type
- Commercial real estate
Description
This exceptional investment opportunity presents a four-unit apartment building located at 2337 S Alder St, Philadelphia, PA 19148, in the Lower Moyamensing section of South Philadelphia. The property boasts a total of 4,800 square feet and is priced at $700,000, translating to $145.83 per square foot and $175,000 per unit. The building is a two-story Class B multifamily property currently generating over $59,000 in annual gross income. The existing configuration includes three 800-square-foot, one-bedroom, one-bathroom apartments, each equipped with in-unit washer and dryer hookups. Additionally, a substantial 2,000-square-foot commercial garage and warehouse space is currently leased to a local sign company. This presents a significant value-add opportunity, as the property has the potential for expansion to five units, leveraging its 48-foot wide footprint. All four units are currently occupied, providing immediate cash flow for the investor. This stabilized investment offers a compelling return and significant upside potential in a rapidly developing neighborhood. The property's location in South Philadelphia offers convenient access to major transportation routes and local amenities. This is a turnkey investment ready for immediate income generation and future growth.
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
- -75.1639941
- Latitude
- 39.920219
