4 Strawberry St Philadelphia, PA 19106

Property Details for 4 Strawberry St

Property size

1,920 SF

Property type

Commercial real estate

Description

This exceptional Old City Philadelphia investment property presents a rare opportunity to acquire a fully renovated, legally-permitted (R3 zoning) two-unit lodging house. Boasting 1,920 square feet across four stories, this Class A building features a three-bedroom, 1.5-bathroom unit and a studio apartment, both beautifully furnished and equipped for short-term rentals. The property enjoys 100% occupancy, generating a substantial net operating income (NOI) of $97,227 and a 7.78% cap rate. Located at 4 Strawberry Street, this prime location places it steps from the Market-Frankford Line's 2nd Street Station, numerous restaurants, and attractions including the Liberty Bell and Penn's Landing. Amenities include updated kitchens and bathrooms, climate control in every room, and included utilities (electric, water, gas). The building is fully sprinklered and equipped with a compliant fire monitoring system, Wi-Fi locks, and security cameras. All furniture, Wi-Fi system, cameras, and short-term rental equipment are included in the sale price of $1,249,000 ($624,500 per unit, $650.52/sq ft). The 434 sq ft lot also includes 3 sq ft of air rights. This turnkey operation offers a high-return investment in one of the nation's top tourist destinations. The property's legal conversion and compliance with city regulations ensure a smooth transition for new ownership.