$ 11,999,999
-
$11,999,999
Price -
0
Bed -
0
Bath -
43,775
SqFt
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About the Listing KWEMPWR - 3167203,3386657
A rare opportunity to acquire a newly constructed, institutionally finished mixed-use asset in one of Philadelphia's fastest-moving corridors positioned directly in the path of Fishtown's northward expansion. Delivered in 2023, 2328 North 2nd Street is a 33-unit, elevator-served apartment building with 3,750 square feet of ground-floor commercial space, a rooftop deck and resident lounge, in-unit laundry in every apartment, and a 10-year, 100% improvement tax abatement. The residential component is 88% occupied and performing. Seventeen units operate under a corporate master lease with Live Work Stay LLC through July 2027 at modestly below-market rents providing consistent, institutionally structured income today with a built-in mark-to-market event in the near term. Market rents for 2-bedroom units in the building are $2,150–$2,400 per month; the path to stabilized NOI of $603,000 annually is straightforward. The commercial component is 3,750 square feet across two ground-floor retail suites. At stabilization, the income capitalization approach supports a value of $11,075,000. The offering includes four adjacent residentially zoned parcels (RSA-5) along North Philip Street, each measuring approximately 1,441 square feet and conditionally approved for townhome development — four homes at approximately 2,700 square feet each. Taxes and square footage is the responsibility of the buyer to verify independently.
Listing Highlights
Status
Active
Days on Site
9
Property Type
Commercial Sale
MLS ®
PAPH2632920
Year Built
2023
Total Square Footage
43,775
Lot/Acreage
0.84
County
Philadelphia
Neighborhood
West Kensington
Area
19133 (19133)
School District
The School District Of Philadelphia
Interior Details
- Bedrooms: 0
- Bathrooms: 0 Full
- Appliances:
- Air Cond: Central A/C
- Heating: Forced Air
- 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: 30
- Zoning: CMX2.5
- Roof:
- Others:
- Sewer: Public Sewer
- Parking Features: Private Garage,4+ Spaces,3+ Spaces,2+ Spaces,1+ Spaces
Financial Details
- Tax Amount: $1
- Taxes w/Assessments: N/A
- Tax/Property ID: N/A
- Tax Year: 2026
Payment Calculator
Monthly Payment
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Questions About..
2328 N 2nd St Philadelphia, PA 19133
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