638 Shedwick St Philadelphia, PA 19104

Property Details for 638 Shedwick St

Year built

2024

Property size

2,500 SF

Property type

Commercial real estate

Description

Exceptional investment opportunity: a brand-new, fully occupied, Class A duplex apartment building in Philadelphia's University City. This 2-unit, 3-story building boasts 2,500 square feet of net rentable space, situated on an 850 square foot lot. Each unit is luxuriously appointed, offering modern kitchens with upgraded appliances, spacious layouts, and ample closet space. Unit #1 features 2 bedrooms, 2.5 bathrooms, and a large backyard, while Unit #2 includes 3 bedrooms, 3 bathrooms, and an unobstructed 360-degree rooftop deck. Both units are currently rented, generating a combined monthly income of $3850 ($1850 and $2000 respectively). Individual electric meters, furnaces, water heaters, and in-unit laundry enhance tenant convenience. The building benefits from a 10-year tax abatement (in process) and a 1-year builder warranty, providing significant long-term value. Located within walking distance of Drexel University and UPenn, this property enjoys a prime location with high walkability (87/100), transit accessibility (92/100), and bikeability (95/100). The surrounding area offers a vibrant mix of restaurants, cafes, and shops. This is a rare opportunity to acquire a high-performing, turnkey investment property in a thriving market. The asking price is $650,000, or $325,000 per unit, representing a compelling price per square foot of $260. The permitted zoning is multi-family. This property is ideal for both seasoned investors and first-time home buyers seeking a strong, stable rental income stream.

Location Insight

City

Philadelphia

County

Philadelphia

State

Pennsylvania

Longitude

-75.192704979346

Latitude

39.96599018465