For Sale
$17,970,000

2400 Venango StPhiladelphia, PA 19134

30-Unit Townhome Portfolio, High ROI

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a fee-simple ownership of Rev Row, a brand-new, 30-unit townhome development in Philadelphia's vibrant Port Richmond neighborhood. Completed in 2024, this Class B multifamily property boasts 76,500 square feet of net rentable space across two, three-story buildings situated on a 37,500 square-foot lot. The property features a compelling 7.63% cap rate, generating a substantial net operating income (NOI) of $1,370,687. Priced at $17,970,000, this translates to $599,000 per unit. The property is pre-certificate of occupancy (CO) qualified as an Opportunity Zone investment, offering significant tax advantages. An existing property management team is in place to facilitate seamless leasing upon closing. With 38 square feet of air rights, potential for future expansion exists. This turnkey investment provides immediate cash flow in a rapidly appreciating market area. The property's unique design and prime location make it an attractive option for renters, ensuring strong occupancy rates and a secure return on investment. This is a rare opportunity to acquire a high-performing, newly constructed multifamily asset in a desirable Philadelphia location.

Highlights

  • On-site management provided.
  • Qualified Opportunity Zone investment, pre-construction.
  • Turnkey investment opportunity.
  • Existing property manager in place.

Property Details for 2400 Venango St

Property type
Residential income homes, Apartment buildings
Class
B
Year Built
2024
Buildings
2
Stories
3
Units
30

Location Insight

City
Philadelphia
County
Philadelphia
State
Pennsylvania
Latitude
39.9924737
Longitude
-75.0966111
2400 Venango St, Philadelphia, Pennsylvania

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2400 Venango St
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