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Listed by ERIC Dvotsky • BHHS Fox & Roach-Center City Walnut
$1,400,000
Est. payment /mo
1,652 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Sub Type Five Or More Units
Listing Status Active
Purchase Type For Sale
Subdivision Ludlow
MLS Listing ID PAPH2611090
Year Built 2024
Annual Tax Amount $3,639
Tax Year 2024
Lot Size 1,652 Sqft
Acres 0.04
Lot Dimensions 20.00 x 83.00
Property Sub-Type Five Or More Units
Source BRIGHT
Property Description
Philly CRE is pleased to present 1230 N Marshall Street, a newly constructed, fully occupied six-unit multifamily asset in the heart of Olde Kensington, just steps from Girard Avenue and moments from Fishtown and Northern Liberties. Built in 2024, this boutique property offers investors a rare opportunity to acquire a stabilized, low-maintenance asset with high in-place income and long-term appreciation potential in one of Philadelphia's fastest-growing corridors. The property is ideally positioned within walking distance to Girard Station on the Market-Frankford Line and surrounded by multiple SEPTA bus routes along Girard Avenue, providing seamless access to Center City, University City, and beyond. Residents benefit from a highly walkable location with immediate access to the vibrant dining, retail, and nightlife scenes of Olde Kensington, Fishtown, and Northern Liberties, driving consistent rental demand from young professionals. The unit mix includes two studio units, three one-bedroom units, and one one-bedroom plus den unit, all thoughtfully designed with modern layouts that maximize efficiency and tenant appeal. The building is fully leased to PHA tenants, offering reliable, government-backed income while minimizing vacancy and collection risk. Constructed with high-end finishes throughout, each unit features modern kitchens, updated bathrooms, and well-proportioned layouts tailored to today's renter. All units are separately metered and equipped with individual mechanical systems, allowing for streamlined management and reduced landlord expenses, and each unit includes an in-unit washer and dryer to further enhance tenant convenience and retention. Further strengthening the investment profile, the property benefits from a full ten-year tax abatement with approximately eight years remaining, significantly reducing operating expenses and boosting overall returns. At the current asking price of $1,400,000, the asset delivers a 6.89 percent cap rate, 4.23 percent cash on cash return, and a DSCR of 1.18 based on in place income, with an NOI of $96,517 and projected annual cash flow after debt of $14,794, positioning investors for immediate yield with additional upside as rents continue to grow in this evolving submarket. Located within a Qualified Opportunity Zone, 1230 N Marshall Street may also provide additional tax advantages for investors focused on long-term wealth creation. As an added incentive, the offering includes one year of free property management, providing immediate operational support and increased net income for investors. 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 19122 (19122)
Zoning RM1
Interior
Hot Water Electric
Heating Forced Air, Heat Pump(s)
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 141031100
Ownership Fee Simple
Special Listing Condition Standard
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Edward Cole
Broker Associate | License ID: PA: AB067617 | DE: RB0020595
Broker Associate License ID: PA: AB067617 | DE: RB0020595