$ 2,250,000
-
$2,250,000
Price -
0
Bed -
0
Bath -
13,055
SqFt
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About the Listing MALLPAN - 3301126
Rare opportunity to acquire an established portfolio of 28 units (52 beds) across four buildings in prime Powelton Village and Spruce Hill locations, walkable to both Drexel University and University of Pennsylvania. Stabilized, income-producing investment with value-add potential via light upgrades - proforma 7.8% cap rate. Portfolio price is $4,750,000 for all four buildings, or purchase separately. Grey Gables (a.k.a. 312-14 N 33rd Street) is a 10 unit building totaling 32 beds, offered at $2,250,000. Surface parking on site for 5 cars offers an extra income source, or could be redeveloped in the future to add additional units. Benefit from a strong tenant base derived from University of Pennsylvania's full-time student population of 23,948 (up 1.65% YOY), as well as 39,000+ individuals employed by University of Pennsylvania, and an overall population of more than 100,000 residents between the 19104 and 19139 zip codes. As the pipeline of multifamily deliveries in Philadelphia continues to dwindle, demand is expected to outpace supply, driving further rental growth in 2025-2026, presenting a unique opportunity for investors to acquire a high-quality, income-producing asset with significant long-term upside. Offering memorandum available upon request.
Listing Highlights
Status
Active With Contingency
Days on Site
243
Property Type
Commercial Sale
MLS ®
PAPH2518662
Year Built
1895
Total Square Footage
13,055
Lot/Acreage
0.16
County
Philadelphia
Neighborhood
Powelton Village
Area
19104 (19104)
School District
Philadelphia City
Interior Details
- Bedrooms: 0
- Bathrooms: 0 Full
- Appliances:
- Air Cond: Window Unit(s)
- Heating: Hot Water,Radiator
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water: Public
Exterior Details
- Lot Description: Not New Construction,Horse Property: No
- Garage Capacity: N/A
- Parking Spaces: 5
- Lot Dimensions: 60.00 x 115.00
- Zoning: Multifamily: 10 units
- Roof:
- Others:
- Sewer: Public Sewer
- Parking Features: Surface,Parking Lot,4+ Spaces,3+ Spaces,2+ Spaces,1+ Spaces
Financial Details
- Tax Amount: $23,516
- Taxes w/Assessments: N/A
- Tax/Property ID: N/A
- Tax Year: 2024
Payment Calculator
Monthly Payment
- in Principal and Interest
- in Taxes
Years
% Down Payment
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Questions About..
312 N 33rd St Philadelphia, PA 19104
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