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2122 N 17th St 2122 N 17th St

2 Unit Apartment Building $595,000 ($297,500/Unit) 7.59% Cap Rate Philadelphia, PA 19121

Investment Highlights

  • Near Temple University
  • Motivated seller
  • 6 year tax abatement

Executive Summary

Welcome to 2122 N 17th Street, where modern luxury meets unparalleled investment potential in the heart of Temple University. This impeccably crafted duplex presents two distinct living spaces: a sprawling 4-bedroom, 3-bathroom unit alongside a grand 6-bedroom, 5-bathroom unit, each offering an oasis of comfort and style. Tenants can experience the pinnacle of city living with multiple outdoor retreats, including a massive private rooftop deck that unveils panoramic skyline vistas, perfect for entertaining or simply soaking in the vibrant atmosphere. Inside, meticulous attention to detail is evident with sleek hardwood-like flooring, recessed lighting, and a state-of-the-art video intercom system ensuring both security and convenience. The kitchens serve as culinary sanctuaries, equipped with top-of-the-line stainless steel appliances, granite countertops, a garbage disposal, and a dishwasher, elevating every cooking endeavor into an artful experience. Abundant natural light floods each of the generously proportioned bedrooms, adorned with custom built-ins in select closets, providing ample storage solutions without sacrificing style. Tenant comfort is prioritized with in-unit laundry facilities, while utility management is streamlined with tenants responsible for electric charges and a nominal flat water fee of $20 per person per month. With recent leases securing impressive monthly incomes of $2,400 and $3,400, and nearly six years remaining on the existing abatement, this property represents an enticing investment opportunity, poised to enrich any rental portfolio as a lucrative cash cow. Welcome to a living experience where luxury, convenience, and profitability converge seamlessly.

Financial Summary (Actual - 2022)

Annual Annual Per SF
Gross Rental Income $61,800 $19.39
Other Income - -
Vacancy Loss - -
Effective Gross Income $61,800 $19.39
Taxes - -
Operating Expenses - -
Total Expenses $7,772 $2.44
Net Operating Income $54,028 $16.95

Financial Summary (Actual - 2022)

Gross Rental Income
Annual $61,800
Annual Per SF $19.39
Other Income
Annual -
Annual Per SF -
Vacancy Loss
Annual -
Annual Per SF -
Effective Gross Income
Annual $61,800
Annual Per SF $19.39
Taxes
Annual -
Annual Per SF -
Operating Expenses
Annual -
Annual Per SF -
Total Expenses
Annual $7,772
Annual Per SF $2.44
Net Operating Income
Annual $54,028
Annual Per SF $16.95

Property Facts

Price $595,000
Price Per Unit $297,500
Sale Type Investment
Cap Rate 7.59%
No. Units 2
Property Type Multifamily
Property Subtype Apartment
Apartment Style Townhome
Building Class A
Lot Size 0.03 AC
Building Size 3,188 SF
Average Occupancy 50%
No. Stories 4
Year Built 2019

Unit Amenities

  • Air Conditioning
  • Balcony
  • Dishwasher
  • Microwave
  • Washer/Dryer
  • Heating
  • Kitchen
  • Stainless Steel Appliances
  • Range
  • Yard
  • Deck
  • Freezer
  • Patio

Unit Mix Information

Description No. Units Avg. Rent/Mo SF
4+3 1 $2,200 1,500
6+5 2 $2,800 2,000
Transit Score ®
Excellent Transit (79)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

zoning

Zoning Code RM1
RM1
  • Listing ID: 28565605

  • Date on Market: 5/24/2023

  • Last Updated:

  • Address: 2122 N 17th St, Philadelphia, PA 19121

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