2028 Fletcher StPhiladelphia, PA 19125

Property Details for 2028 Fletcher St

Year built

2018

Property size (Sq ft)

3,011 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This exceptional Class A, three-story apartment building, constructed in 2018, presents a compelling investment opportunity in Philadelphia's desirable Fishtown/East Kensington neighborhood. Boasting 3,011 square feet, the property features three spacious two-bedroom, two-bathroom units, each meticulously designed with modern amenities. Upgrades include in-unit washer/dryers, full kitchens equipped with dishwashers, ample counter and cabinet space, bar stools, and LED lighting. The bathrooms showcase beautiful, modern tile and space-saving niches. Currently operating at 100% occupancy since June 1, 2024, this stabilized investment offers a strong 6.95% cap rate and a net operating income (NOI) of $59,055. The asking price is $850,000, translating to $282.30 per square foot and $283,333.33 per unit. The property benefits from a full tax abatement with over four years remaining, significantly reducing operating costs. Located at 2028 E Fletcher St, Philadelphia, PA 19125, this turnkey triplex is zoned RM-1 and represents a rare opportunity to acquire a like-new, high-performing asset in a thriving urban location. The building's modern design and desirable location ensure strong rental demand and long-term value appreciation.

Location Insight

City

Philadelphia

County

Philadelphia

State

Pennsylvania

Latitude

39.9827

Longitude

-75.1314

FAQs

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