2214 W Ontario St
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2214 W Ontario St
63 Unit Apartment Building $2,100,000 ($33,333/Unit) Philadelphia, PA 19140
INVESTMENT HIGHLIGHTS
- Projected Gross Rent: $1,012,200 annually.
- Average one-bed is 575 square feet and average two-bed is 1,100 square feet.
- Upon completion of construction and stabilization, COC is 119% and ROI is 42.62%.
- 64-unit property consisting of one & two-bedroom apartments.
- 40 parking spaces with no Low-Income Housing Requirements.
EXECUTIVE SUMMARY
Jump into your next development project, which is truly shovel-ready.
Projected Gross Rent: $1,012,200 annually with a solid 6%+ Cap rate. 64 Dwelling Units: 52 one-bed/ one-bath, 11 two-bed/ one-bath & one office space. 40 accessory surface parking spaces (including two van-accessible spaces and three electric vehicle parking spaces), and 21 Class 1A bicycle parking spaces. No low-income housing requirement. An adaptive reuse project, with Completed Engineer Reports for the foundation and facade.
All necessary documents, including plans, permits, reports, and surveys, will be provided to the buyer upon payment to the architect of $75,000 to release the plans. Don't miss this opportunity to invest in a lucrative real estate venture with minimal hassle!
Projected Gross Rent: $1,012,200 annually with a solid 6%+ Cap rate. 64 Dwelling Units: 52 one-bed/ one-bath, 11 two-bed/ one-bath & one office space. 40 accessory surface parking spaces (including two van-accessible spaces and three electric vehicle parking spaces), and 21 Class 1A bicycle parking spaces. No low-income housing requirement. An adaptive reuse project, with Completed Engineer Reports for the foundation and facade.
All necessary documents, including plans, permits, reports, and surveys, will be provided to the buyer upon payment to the architect of $75,000 to release the plans. Don't miss this opportunity to invest in a lucrative real estate venture with minimal hassle!
FINANCIAL SUMMARY (PRO FORMA - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (PRO FORMA - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $2,100,000 | Apartment Style | Low-Rise |
| Price Per Unit | $33,333 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.91 AC |
| Sale Condition | Building in Shell Condition | Building Size | 68,890 SF |
| No. Units | 63 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1915/2024 |
| Property Subtype | Apartment | Parking Ratio | 0.58/1,000 SF |
| Price | $2,100,000 |
| Price Per Unit | $33,333 |
| Sale Type | Investment |
| Sale Condition | Building in Shell Condition |
| No. Units | 63 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.91 AC |
| Building Size | 68,890 SF |
| No. Stories | 3 |
| Year Built/Renovated | 1915/2024 |
| Parking Ratio | 0.58/1,000 SF |
UNIT AMENITIES
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
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Transit Score®
Excellent Transit (73)
PROPERTY TAXES
| Parcel Number | 884341857 | Total Assessment | $2,411,200 (2025) |
| Land Assessment | $723,360 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $1,687,840 (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
884341857
Land Assessment
$723,360 (2025)
Improvements Assessment
$1,687,840 (2025)
Total Assessment
$2,411,200 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024
ZONING
| Zoning Code | I2 |
| I2 |
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2214 W Ontario St
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