2,950 SqFt
2,950 SqFt
Key Details
Property Type Multi-Family
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 2,950 sqft
Price per Sqft $608
Lot Size 3,049 Sqft
MLS Listing ID PAPH2537876
Financing Cash,Negotiable
Style Other
Total Units 1
Short Sale No
Originating MLS BRIGHT
Property Description
Powelton Village, adjacent to University City, Philadelphia. Constructed in 2018, the building features large, high-yielding units with premium finishes, private outdoor spaces, and in-unit laundry. The unit mix includes a majority of larger-than-average four-bedroom units, along with two- and three-bedroom
units. Positioned just blocks from UPenn, Drexel University, Penn Presbyterian
Medical Center, and the Market-Frankford Line, 327 N 40th offers an investor secure long-term returns in one of the city's strongest rental corridors. The property is currently fully leased and generates $14,835 /month in gross income. Offered at a 8.03% cap rate, the building has over 3 years on the
remaining tax abatement and $249/SF. This is a rare opportunity to acquire a stabilized, income-generating property in a premier university-adjacent submarket.
Location
State PA
County Philadelphia
Area 19104 (19104)
Zoning RM1
Interior
Hot Water Natural Gas
Heating Central
Cooling Central A/C
Heat Source Electric
1-purchase type For Sale
Exterior
Waterfront N
Water Access N
Accessibility None
Parking Type On Street
Building
New Construction N
Sewer Public Sewer
Water Public
Architectural Style Other
Additional Building Above Grade
Schools
School District Philadelphia City
Others
Tax Amount $2,358
Tax Year 2024
Tax ID 881161740
Ownership Fee Simple
SqFt Source 2950
Acceptable Financing Cash, Negotiable
Special Sale Standard
