For Sale
$829,900

46 44Th StPhiladelphia, PA 19104

Prime West Philly location, high ROI.

Overview

Added:
Dec 11, 2024
Days on market:
114
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.
  • Tenants pay all utilities, including water.

Property Details for 46 44Th St

Property type
Dormitories, Student housing
Square Feet
3,200 SF
Class
A
Year Built/Renovated
2020/2020
Buildings
1
Stories
4
Units
4

Location Insight

City
Philadelphia
County
Philadelphia
State
Pennsylvania
Latitude
39.9569981
Longitude
-75.2099236
46 44Th St, Philadelphia, Pennsylvania

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46 44Th St
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