2243 N BROAD ST, Philadelphia, PA 19132
2243 N BROAD ST, Philadelphia, PA 19132
2243 N BROAD ST, Philadelphia, PA 19132
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your advisor will contact you to discuss available opportunities.
In-PersonVirtual Tour
Edward Cole

Edward Cole

+1(610) 416-6753
Listed by ERIC Dvotsky • BHHS Fox & Roach-Center City Walnut
$1,980,000
Est. payment /mo
2,718 Sqft Lot
Save

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 1.28 DSCR and an exceptional 7.44% cap rate, a rare offering for new construction in today's market. The property generates $184,860 in annual gross income, delivering strong and stable in-place cash flow with additional upside potential in a rapidly appreciating submarket. 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 a unit washer and dryer, 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

Read Less Info
Bright MLS (BMLS)

Nearby School & Business

Get More Information

Edward Cole

Edward Cole

+1(610) 416-6753

Broker Associate | License ID: PA: AB067617 | DE: RB0020595

Broker Associate License ID: PA: AB067617 | DE: RB0020595

Name

Name

Phone*

Phone

Message

By checking this box, I agree by electronic signature to the Electronic Disclosure Consent Agreement; to receive recurring marketing communication from Edward Cole, including auto-dialed calls, texts, and artificial/prerecorded voice messages (message frequency varies; data rates may apply; reply "STOP" to opt-out of texts or "HELP" for assistance); and to the Terms of Service and Privacy Policy of this website. Consent not required to make a purchase. I understand that I can call to obtain direct assistance.

Quick Search