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2146 N Front St 3 Unit Apartment Building $849,000 ($283,000/Unit) 6.75% Cap Rate Philadelphia, PA 19122

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INVESTMENT HIGHLIGHTS

  • 4 units - New construction with High end finishes, great layouts, roofeck making it very easy to lease
  • Fully leased with $6,150/M in rental income
  • Turnkey and very low maintenance with Full management available
  • 10 year real estate tax abatement with taxes being $215/year only which allows you to pay down your equity faster
  • In the middle of the fastest growing areas of the city with tons of new construction and new restaurants opening up very frequently.

EXECUTIVE SUMMARY

Experience modern living and smart investing with this newly built property, offering three well-designed residential units plus a commercial storefront in the vibrant heart of Norris Square. This opportunity is perfect for a buy-and-hold investor or a homeowner-occupant (eligible for just 5% down). When fully leased, the property generates $6,150 per month in actual rental income. Currently, Unit 3 has been intentionally left vacant to accommodate buyers who may want to live on site while collecting rent from the other units. With 9 years remaining on the tax abatement, the fast growing and appreciating location and minimal upkeep required, this is a low-maintenance, high-return investment that checks all the boxes. Unit 1: A striking bi-level apartment offering two generously sized bedrooms and two full baths, each appointed with stylish tile finishes. Soaring 9-foot ceilings create a spacious atmosphere throughout. The chef’s kitchen is outfitted with 36-inch sleek, flat-panel cabinetry, quartz counters, a modern herringbone backsplash, and premium stainless-steel appliances. A washer and dryer are included for added convenience. The highlight is private access to a large backyard oasis, perfect for relaxation or entertaining. Unit 2: A contemporary 1-bedroom, 1-bathroom flat designed with laminate flooring, 9-foot ceilings, and a dedicated laundry area. The kitchen features streamlined flat-panel cabinetry, a striking herringbone backsplash, stainless-steel appliances, Unit 3: Occupying the top two levels, this penthouse-style residence includes three spacious bedrooms, each paired with its own full bath. The main-floor primary suite boasts ample room for oversized furniture, a walk-in closet, and a spa-like en-suite with a glass-enclosed shower, tiled floors and walls, and modern vanities. The open living area features a bright kitchen with quartz counters, flat-panel cabinetry, stainless appliances, and a signature herringbone backsplash. Oversized windows bring in panoramic city views, The crowning feature: a private roof deck with 360-degree vistas of Center City — an ideal setting for outdoor entertaining. Commercial Space: Well sized, Positioned at street level and collecting rent. This newer construction is located in one of Philadelphia's fastest growing and appreciating neighborhoods ,walkable to some of the city's best restaurants, bars and cafes.

FINANCIAL SUMMARY (ACTUAL - 2024)

ANNUAL ANNUAL PER SF
Gross Rental Income $73,500 $21.00
Other Income - -
Vacancy Loss - -
Effective Gross Income $73,500 $21.00
Taxes $215 $0.06
Operating Expenses - -
Total Expenses $215 $0.06
Net Operating Income - -

FINANCIAL SUMMARY (ACTUAL - 2024)

Gross Rental Income
Annual $73,500
Annual Per SF $21.00
Other Income
Annual -
Annual Per SF -
Vacancy Loss
Annual -
Annual Per SF -
Effective Gross Income
Annual $73,500
Annual Per SF $21.00
Taxes
Annual $215
Annual Per SF $0.06
Operating Expenses
Annual -
Annual Per SF -
Total Expenses
Annual $215
Annual Per SF $0.06
Net Operating Income
Annual -
Annual Per SF -

PROPERTY FACTS

Price $849,000
Price Per Unit $283,000
Sale Type Investment
Cap Rate 6.75%
Sale Condition 1031 Exchange
No. Units 3
Property Type Multifamily
Property Subtype Apartment
Building Class C
Lot Size 0.03 AC
Building Size 3,500 SF
Average Occupancy 100%
No. Stories 4
Year Built 2024
Opportunity Zone Yes
Zoning CMX-2 - zoning is for neighborhood-serving retail and service uses. It allows for a mix of commercial and residential uses, with some requiring special permits
Walk Score®
Very Walkable (88)
Bike Score®
Very Bikeable (80)
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.®

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
871000271
Land Assessment
$120,400 (2025)
Improvements Assessment
$0 (2025)
Total Assessment
$120,400 (2025)
Annual Taxes
$215 ($0.06/SF)
Tax Year
2024
  • Listing ID: 38057070

  • Date on Market: 10/13/2025

  • Last Updated:

  • Address: 2146 N Front St, Philadelphia, PA 19122

Contact the Sale Advisor

2146 N Front St

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