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2215 E Tioga St
Philadelphia, PA 19134
East Tioga Lofts · Multifamily Property For Sale
·
45 Units
Investment Highlights
- Recently redeveloped asset combining historic architecture with modern finishes.
- 45-unit property offering immediate scale and operational efficiency.
- Community amenities include secure parking, pet-friendly spaces, and bicycle storage.
- Excellent access to I-95, SEPTA transit, and major Philadelphia employment hubs.
- Strong rent growth potential through value-add strategies and market repositioning.
- Located in Port Richmond, near Fishtown, a vibrant neighborhood attracting strong tenant demand.
Executive Summary
East Tioga Lofts offers an exceptional multifamily investment in Philadelphia’s Port Richmond neighborhood. The property features 45 modern loft-style units in a 33,555-square-foot building, recently redeveloped in 2022 to meet contemporary living standards. Units combine historic industrial charm with sleek, high-quality finishes, including exposed brick, hardwood flooring, polished concrete, and stainless steel appliances. Shared community features include controlled-access entry, on-site parking, a pet-friendly environment with outdoor amenities, and bicycle storage.
Positioned adjacent to the Fishtown area, the property enjoys connectivity to Center City, Temple University, Drexel University, and major medical and corporate employers.
Immediate access to I-95 and public transportation enhances tenant convenience and supports strong long-term demand. Current operations demonstrate reliable cash flow, with an NOI of $627,272 and projected pro forma NOI of $691,952 through strategic rent adjustments. Priced at $9,450,000 with a stabilized cap rate of 7.32%, East Tioga Lofts provides investors significant upside opportunity and attractive yield in a competitive submarket.
Positioned adjacent to the Fishtown area, the property enjoys connectivity to Center City, Temple University, Drexel University, and major medical and corporate employers.
Immediate access to I-95 and public transportation enhances tenant convenience and supports strong long-term demand. Current operations demonstrate reliable cash flow, with an NOI of $627,272 and projected pro forma NOI of $691,952 through strategic rent adjustments. Priced at $9,450,000 with a stabilized cap rate of 7.32%, East Tioga Lofts provides investors significant upside opportunity and attractive yield in a competitive submarket.
Property Facts
| Price Per Unit | $210,000 | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | B |
| Cap Rate | 6.64% | Lot Size | 0.70 AC |
| No. Units | 45 | Building Size | 33,555 SF |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 2022 |
| Zoning | ICMX | ||
| Price Per Unit | $210,000 |
| Sale Type | Investment |
| Cap Rate | 6.64% |
| No. Units | 45 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.70 AC |
| Building Size | 33,555 SF |
| No. Stories | 2 |
| Year Built | 2022 |
| Zoning | ICMX |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Washer/Dryer
- Heating
- Kitchen
- Hardwood Floors
- Refrigerator
- Stainless Steel Appliances
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Online Services
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 32 | - | 480 - 832 |
| 2+2 | 7 | - | 831 - 1,031 |
| 3+2 | 6 | - | 1,185 |
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