2243 N BROAD ST, Philadelphia, PA 19132
2243 N BROAD ST, Philadelphia, PA 19132
2243 N BROAD ST, Philadelphia, PA 19132
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Heather R. Nahr

Heather R. Nahr

+1(240) 620-3674
Listed by ERIC Dvotsky • BHHS Fox & Roach-Center City Walnut
$1,970,000
Est. payment /mo
2,718 Sqft Lot
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UPDATED:

Key Details

Property Type Commercial

Sub Type Five Or More Units

Listing Status Active

Purchase Type For Sale

Subdivision Temple University

MLS Listing ID PAPH2611114

Year Built 2023

Annual Tax Amount $1,408

Tax Year 2025

Lot Size 2,718 Sqft

Acres 0.06

Lot Dimensions 18.00 x 151.00

Property Sub-Type Five Or More Units

Source BRIGHT

Property Description

Philly CRE is pleased to present a premier investment opportunity: a fully occupied, 11-unit mixed-use property built in 2023, ideally located just steps from Temple University's main campus. Already priced to sell, this asset offers immediate financing upside with a 1.33 DSCR and an exceptional 7.79% cap rate, a rare offering for new construction in today's market. The property generates $184,860 in annual gross rental income, plus an additional $500 per month ($6,000 annually) in storage income, creating a diversified revenue stream and enhancing overall cash flow. Consistent rental demand is driven by its proximity to both Temple University and Temple University Hospital, attracting a reliable tenant base of students and healthcare professionals. All residential units are leased to PHA tenants with rents secured, providing predictable and low-risk income from day one. The unit mix includes one studio, eight one-bedroom units, and one two-bedroom unit, along with a ground-floor commercial space, creating a diversified and resilient income stream. The property benefits from a ten-year tax abatement with over six years remaining, significantly reducing operating expenses and enhancing overall returns. It has also recently passed reinspection, offering added confidence in the property's condition and compliance. Built with high-end finishes, each unit features spacious layouts, large bedrooms, and select private balconies that enhance tenant appeal and retention. All units are separately metered and equipped with individual mechanical systems, as well as in-unit washers and dryers, minimizing landlord responsibilities and maximizing operational efficiency. As an added incentive, the offering includes one year of free property management, providing immediate operational support and increased net income for investors. Conveniently located near the Broad Street Line and multiple bus routes, the property offers excellent accessibility throughout Philadelphia. Its location within a Qualified Opportunity Zone may also provide additional tax advantages. With high stabilized income, attractive financing metrics, minimal maintenance requirements, and long-term upside, this is a rare opportunity to acquire a high-performing asset in one of Philadelphia's most active and supply-constrained rental corridors. Take advantage of this exceptional opportunity to secure a turnkey, high-yielding investment with built-in management support and long-term growth potential.

Location

State PA

County Philadelphia

Area 19132 (19132)

Zoning CMX 2.5

Interior

Hot Water Electric

Heating Forced Air

Cooling Central A/C

Heat Source Electric

Exterior

Water Access N

Accessibility None

Garage N

Building

Sewer Public Sewer

Water Public

New Construction N

Schools

School District Philadelphia City

Others

Tax ID 885438820

Ownership Fee Simple

Special Listing Condition Standard

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Bright MLS (BMLS)

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Heather R. Nahr

Heather R. Nahr

+1(240) 620-3674

Agent | License ID: MD-586044, PA-RSR005172

Agent License ID: MD-586044, PA-RSR005172

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