2323 2Nd StPhiladelphia, PA 19133

For Sale
$3,355,000
15-Unit, Gut-Renovated Apartment Buildings

Overview

Added:
Dec 11, 2024
Days on market:
126
This exceptional investment opportunity presents a portfolio of fifteen meticulously renovated apartment units spread across four distinct locations in Philadelphia's desirable Olde Kensington and Brewerytown neighborhoods. The portfolio comprises two duplexes, one triplex, and an eight-unit building, all boasting a combined net rentable area of 12,452 square feet. Each property underwent a complete gut renovation between 2021 and 2023, extending to the studs. This comprehensive renovation included the replacement of all electrical, plumbing, and HVAC systems, as well as new roofing, windows, and curb traps where needed. Modern kitchens and bathrooms were installed in every unit, along with updated appliances. The thoughtful renovations also involved reconfiguring many of the unit layouts to maximize efficiency and appeal. Adding significant value, each property benefits from a secured 10-year tax abatement, with many still in the process of finalization with the city. The properties are strategically located at 2323 N 2nd St (19133), 2527 N Front St (19133), 2118 Master St (19121), and 2626-28 Ridge Ave (19121), offering investors exposure to two thriving Philadelphia neighborhoods known for strong rental demand and significant home appreciation. The eight-unit building also includes a single-car garage. This turnkey portfolio represents a rare opportunity to acquire a high-quality, income-producing asset in a rapidly appreciating market. The asking price for this exceptional investment is $3,355,000.

Highlights

  • $3,355,000 asking price for a Class A multifamily portfolio.
  • 15-unit apartment building portfolio.
  • Four buildings totaling 12,452 square feet of net rentable space.
  • Recently renovated (2021-2023) with gut renovations including new electric, plumbing, HVAC, roofing, windows, kitchens, and bathrooms.
  • Located in Philadelphia's Olde Kensington and Sharswood neighborhoods, with 10-year tax abatements secured.

Property Details for 2323 2Nd St

Property type
Apartment buildings
Class
A
Year Renovated
2021
Buildings
4
Units
15

Location Insight

City
Philadelphia
County
Philadelphia
State
Pennsylvania
Latitude
39.9859439
Longitude
-75.1358837
2323 2Nd St, Philadelphia, Pennsylvania

FAQs

What type of property is this?
Apartment building - 15-Unit, Gut-Renovated Apartment Buildings
Where is the apartment building located?
The property is located at 2323 2Nd St Philadelphia, PA.
What is the asking price?
The asking price for this property is $3,355,000.
What are key features of this property?
This property features: $3,355,000 asking price for a Class A multifamily portfolio.; 15-unit apartment building portfolio.; Four buildings totaling 12,452 square feet of net rentable space.
How can I contact the broker?
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2323 2Nd St
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