This exceptional Class A, four-unit apartment building, constructed in 2020 and renovated the same year, presents a compelling investment opportunity. Located at 46 S. 44th Street in Philadelphia, Pennsylvania (zip code 19104), this property boasts 3,200 square feet of total space, with 2,800 square feet of net rentable area. The building features four spacious two-bedroom, one-bathroom units, each occupying a full floor. High-end finishes include spa-styled bathrooms, Euro-styled kitchens, and hardwood floors throughout. Each unit is equipped with independent central air and heat, a washer and dryer, and stainless steel appliances. Residents enjoy a shared community rooftop deck offering panoramic views. The property benefits from a 10-year tax abatement, contributing to its strong financial performance. Currently operating at 100% occupancy (as of July 31, 2024), the building generates a Net Operating Income (NOI) of $70,462, resulting in an 8.49% cap rate. Situated just blocks from the University of Pennsylvania campus and Clark Park, this property enjoys a prime location with convenient access to amenities. The lot size is 1,028 square feet, and the building is zoned CMX4. The asking price is $829,900, translating to $259.34 per square foot and $207,475 per unit. Tenants are responsible for all utilities, including a monthly water fee. This stabilized investment offers a rare combination of luxury finishes, prime location, and strong financial performance.
Highlights
10-year tax abatement.
Community rooftop deck with panoramic views.
Energy-efficient units with central A/C & heat, and stainless steel appliances.
Prime location near UPenn, Clark Park, and amenities.
High-end finishes including spa-style bathrooms, Euro-style kitchens, and hardwood floors.
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Contacts
Nicholas Gentile
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46 44Th St, Philadelphia, Pennsylvania, 19104
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Disclaimer
The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.
We do not guarantee the accuracy, reliability, or completeness of these estimates, as market conditions, property features, and other factors may affect actual property values. Users should conduct their own due diligence and consult with a real estate professional before making financial or investment decisions.
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46 44Th St
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