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Listed by Mr. Saam Tashayyod • Trophy Commercial Real Estate LLC
$2,500,000
Est. payment /mo
5,026 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Subdivision Northern Liberties
MLS Listing ID PAPH2663844
Year Built 1940
Annual Tax Amount $5,289
Tax Year 2006
Lot Size 5,026 Sqft
Acres 0.12
Property Sub-Type Other
Source BRIGHT
Property Description
Trophy Commercial Real Estate, LLC is pleased to present the exclusive offering of 948 N 8th Street, a 12-unit multifamily investment opportunity located in Philadelphia's highly desirable Northern Liberties/Poplar neighborhood. The property consists of twelve spacious apartments totaling approximately 9,552 rentable square feet, featuring a desirable mix of one-bedroom and two-bedroom residences designed to appeal to a broad tenant base.
Offered at $2,500,000, the property generates an in-place Net Operating Income of approximately $133,026, representing a 5.32% capitalization rate, with projected Year One NOI increasing to $144,872 (5.79% cap rate) through continued rental growth and implementation of a utility reimbursement program. Located just minutes from Northern Liberties, Fishtown, Old City, and Center City Philadelphia, the property offers investors stable in-place cash flow with additional upside in one of the city's strongest multifamily submarkets.
Investment highlights
Well-leased 12-unit apartment building generating immediate in-place cash flow in one of Philadelphia's most established urban rental markets
Located just north of Northern Liberties with convenient access to Fishtown, Old City, Center City Philadelphia, SEPTA transit, neighborhood retail, and major employment centers
Balanced mix of one-bedroom and two-bedroom apartments serving young professionals, roommates, and long-term residents
Large floorplans averaging 796 square feet provide a competitive advantage within the surrounding multifamily market
Positioned within one of Philadelphia's most supply-constrained neighborhoods, benefiting from continued investment, population growth, and strong rental demand
Offered at $2,500,000, the property generates an in-place Net Operating Income of approximately $133,026, representing a 5.32% capitalization rate, with projected Year One NOI increasing to $144,872 (5.79% cap rate) through continued rental growth and implementation of a utility reimbursement program. Located just minutes from Northern Liberties, Fishtown, Old City, and Center City Philadelphia, the property offers investors stable in-place cash flow with additional upside in one of the city's strongest multifamily submarkets.
Investment highlights
Well-leased 12-unit apartment building generating immediate in-place cash flow in one of Philadelphia's most established urban rental markets
Located just north of Northern Liberties with convenient access to Fishtown, Old City, Center City Philadelphia, SEPTA transit, neighborhood retail, and major employment centers
Balanced mix of one-bedroom and two-bedroom apartments serving young professionals, roommates, and long-term residents
Large floorplans averaging 796 square feet provide a competitive advantage within the surrounding multifamily market
Positioned within one of Philadelphia's most supply-constrained neighborhoods, benefiting from continued investment, population growth, and strong rental demand
Location
State PA
County Philadelphia
Area 19123 (19123)
Zoning COMM
Interior
Hot Water Natural Gas
Heating Zoned
Cooling None
Heat Source Natural Gas
Exterior
Water Access N
Accessibility None
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District The School District Of Philadelphia
Others
Tax ID 881439603
Ownership Fee Simple
Special Listing Condition Standard
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Jeanette Petrucelli
Broker Associate License ID: AB067317
Broker Associate License ID: AB067317