2300 Locust St
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2300 Locust St
5 Unit Apartment Building $1,700,000 ($340,000/Unit) Philadelphia, PA 19103
Investment Highlights
- Five-Unit Multifamily Asset | Prime Fitler Square Location at 23rd & Locust.
- Unparalleled Location | Prime Fitler Square Corner location with huge residential demand and limited inventory.
- Convenience of immediate access to Walnut, South, Market, Chestnut and Broad Street arteries connecting throughout Center City as well as I-76.
- Value-Add Opportunity | Potential to increase rental income to market rates through strategic renovations and additional amenities for a 23 percent.
- Fitler Square's residents enjoy easy access to some of the city's best dining experiences, and parks with both Fitler Square and Schuylkill River Park
Executive Summary
SCOPE Commercial Real Estate Services, LLC "SCOPE" is pleased to present the opportunity to acquire a five-unit multifamily asset located at 2300 Locust Street in Philadelphia's renowned Fitler Square neighborhood.
Located in the charming neighborhood of Fitler Square, 2300 Locust Street is a historic building that exudes character and charm. This 7,050-square-foot, four-story property features five two-bedroom, two-bathroom units. Each apartment boasts distinctive architectural details as well as high ceilings, hardwood flooring, central air, and large windows that allow natural light to flood the interiors. Select units also have bi-level layouts that add to the appeal, creating an open atmosphere.
The property is designed for flexibility for the potential buyer, with each unit recorded as an individual condo and separately metered. This setup offers the opportunity to maintain the property as an apartment building or to sell the units as single-family homes, catering to a variety of investment and residential preferences.
2300 Locust Street is ideally situated at the corner of 23rd & Locust Streets, offering unparalleled access to some of Philadelphia's finest restaurants and dining experiences. The property is just two blocks from the Schuylkill River Park, providing residents with easy access to one of the city's most popular trails for jogging, biking, and walking. Additionally, the property's prime location offers convenient access to Center City, making it ideal for professionals seeking proximity to Philadelphia's business district. The neighborhood's close proximity to major universities such as the University of Pennsylvania and Drexel University also makes it an attractive option for students and faculty, offering a perfect blend of urban living and accessibility to educational institutions.
Location Description
Discover the vibrant neighborhood surrounding this prime Philadelphia location, featuring a diverse array of cultural attractions, renowned dining options, and convenient amenities. Situated near Rittenhouse Square, residents of the area enjoy easy access to iconic parks, upscale shopping, and a variety of entertainment venues. Investors will appreciate the property's proximity to major employers, making it an appealing choice for potential tenants seeking a live-work-play lifestyle. With its bustling urban energy and proximity to public transportation, the location offers an exceptional blend of modern convenience and city living for discerning multifamily and high-rise investors.
Located in the charming neighborhood of Fitler Square, 2300 Locust Street is a historic building that exudes character and charm. This 7,050-square-foot, four-story property features five two-bedroom, two-bathroom units. Each apartment boasts distinctive architectural details as well as high ceilings, hardwood flooring, central air, and large windows that allow natural light to flood the interiors. Select units also have bi-level layouts that add to the appeal, creating an open atmosphere.
The property is designed for flexibility for the potential buyer, with each unit recorded as an individual condo and separately metered. This setup offers the opportunity to maintain the property as an apartment building or to sell the units as single-family homes, catering to a variety of investment and residential preferences.
2300 Locust Street is ideally situated at the corner of 23rd & Locust Streets, offering unparalleled access to some of Philadelphia's finest restaurants and dining experiences. The property is just two blocks from the Schuylkill River Park, providing residents with easy access to one of the city's most popular trails for jogging, biking, and walking. Additionally, the property's prime location offers convenient access to Center City, making it ideal for professionals seeking proximity to Philadelphia's business district. The neighborhood's close proximity to major universities such as the University of Pennsylvania and Drexel University also makes it an attractive option for students and faculty, offering a perfect blend of urban living and accessibility to educational institutions.
Location Description
Discover the vibrant neighborhood surrounding this prime Philadelphia location, featuring a diverse array of cultural attractions, renowned dining options, and convenient amenities. Situated near Rittenhouse Square, residents of the area enjoy easy access to iconic parks, upscale shopping, and a variety of entertainment venues. Investors will appreciate the property's proximity to major employers, making it an appealing choice for potential tenants seeking a live-work-play lifestyle. With its bustling urban energy and proximity to public transportation, the location offers an exceptional blend of modern convenience and city living for discerning multifamily and high-rise investors.
Property Facts
| Price | $1,700,000 | Apartment Style | Mid Rise |
| Price Per Unit | $340,000 | Building Class | C |
| Sale Type | Investment | Building Size | 7,050 SF |
| No. Units | 5 | No. Stories | 4 |
| Property Type | Multifamily | Year Built | 1900 |
| Property Subtype | Apartment |
| Price | $1,700,000 |
| Price Per Unit | $340,000 |
| Sale Type | Investment |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid Rise |
| Building Class | C |
| Building Size | 7,050 SF |
| No. Stories | 4 |
| Year Built | 1900 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 5 | - | 1,266 |
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Walk Score ®
Walker's Paradise (97)
Transit Score ®
Rider's Paradise (100)
Bike Score ®
Biker's Paradise (99)
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2300 Locust St
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