For Sale
$1,550,000

825 Corinthian AvePhiladelphia, PA 19130

Prime Philadelphia multifamily, high ROI.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional Class A, fee-simple investment property at 825 Corinthian Ave, Philadelphia, PA 19130, presents a compelling opportunity. The 5-unit apartment building, totaling 5,280 square feet, boasts a strong 80% occupancy rate and a projected gross annual rent of $157,200. Completely renovated in 2021, the three-story building features a mix of studio, one, and two-bedroom apartments, each averaging approximately 650 square feet. The building also includes a ground-floor commercial space, adding to its versatility and income potential. Situated on a 2,062 square foot lot, the property benefits from 38 square feet of available air rights and is zoned CMX1. The current pro-forma NOI stands at $137,091, yielding an attractive 8.84% pro-forma cap rate and an 8.81% current cap rate. Conveniently located two blocks from Fairmount Avenue, a major commercial corridor in Philadelphia, the property offers easy access to amenities, schools, and transportation. Street parking is available. Importantly, there are no low-income or rent-controlled units, ensuring stable and predictable cash flow. A management company is available to oversee the building, providing further convenience for the owner. This property offers significant upside potential for appreciation, given its location and historically stable values in the area. The asking price is $1,550,000.

Highlights

  • Owner-occupied multifamily property.
  • $157,200 projected annual gross rent, all units occupied.
  • Five-unit building with a mix of studio, one-, and two-bedroom apartments.
  • Average unit size approximately 650 square feet, bi-level units available.
  • Street parking; no rent control or low-income restrictions.
  • Two blocks from Fairmount Avenue, a major Philadelphia commercial corridor.

Property Details for 825 Corinthian Ave

Property type
Retail properties, Mixed-use properties
Square Feet
5,280 SF
Class
A
Year Renovated
2021
Buildings
1
Stories
3
Units
5

Location Insight

City
Philadelphia
County
Philadelphia
State
Pennsylvania
Latitude
39.970259660167
Longitude
-75.170834980443
825 Corinthian Ave, Philadelphia, Pennsylvania

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825 Corinthian Ave
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