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5 units multi family 238 S 22nd St 5 Unit Apartment Building $945,000 ($189,000/Unit) 6.50% Cap Rate Philadelphia, PA 19103
INVESTMENT HIGHLIGHTS
- Exceptional Location – Steps from Rittenhouse Square, premier dining, retail, and cultural attractions.
- High-Demand Multifamily Asset – Strong income potential in a tight rental market with proven long-term value.
- Fully Renovated CMX1 Boutique Building – Modern interiors and systems with historic charm, turnkey for investors & tenants.
EXECUTIVE SUMMARY
Nestled just steps from the iconic Rittenhouse Square, this CMX1-zoned property enjoys a setting that blends timeless elegance with vibrant city living. The neighborhood offers a curated mix of lush green space, acclaimed dining, boutique shopping, and world-class cultural venues such as the Philadelphia Museum of Art and the Kimmel Center. Excellent public transit and a consistent stream of professionals, students, and long-term residents ensure enduring rental demand. For multifamily or mixed-use investors, this address delivers both prestige and enduring value in one of Philadelphia’s most sought-after enclaves.
Other Available Properties:
https://www.loopnet.com/Listing/1113-1115-Spruce-St-Philadelphia-PA/36175031/
https://www.loopnet.com/Listing/319-S-12th-St-Philadelphia-PA/36177097/
https://www.loopnet.com/Listing/238-S-22nd-St-Philadelphia-PA/36177193/
https://www.loopnet.com/Listing/Mix-Use-Building-with-Townhouse/36376035/
Other Available Properties:
https://www.loopnet.com/Listing/1113-1115-Spruce-St-Philadelphia-PA/36175031/
https://www.loopnet.com/Listing/319-S-12th-St-Philadelphia-PA/36177097/
https://www.loopnet.com/Listing/238-S-22nd-St-Philadelphia-PA/36177193/
https://www.loopnet.com/Listing/Mix-Use-Building-with-Townhouse/36376035/
DATA ROOM Click Here to Access
- Operating and Financials
FINANCIAL SUMMARY (ACTUAL - 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 (ACTUAL - 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 | $945,000 | Apartment Style | Low-Rise |
| Price Per Unit | $189,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.02 AC |
| Cap Rate | 6.50% | Building Size | 3,447 SF |
| Gross Rent Multiplier | 13.19 | Average Occupancy | 100% |
| No. Units | 5 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1920/2019 |
| Property Subtype | Apartment | ||
| Zoning | CMX1 | ||
| Price | $945,000 |
| Price Per Unit | $189,000 |
| Sale Type | Investment |
| Cap Rate | 6.50% |
| Gross Rent Multiplier | 13.19 |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.02 AC |
| Building Size | 3,447 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built/Renovated | 1920/2019 |
| Zoning | CMX1 |
AMENITIES
- Smoke Detector
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- High Speed Internet Access
- Refrigerator
- Oven
- Tub/Shower
- Wi-Fi
- Basement
- Garden
- Instant Hot Water
- Skylights
SITE AMENITIES
- 24 Hour Access
- Courtyard
- Furnished Units Available
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 5 | $1,295 | 369 |
1 1
Walk Score®
Walker's Paradise (98)
Transit Score®
Rider's Paradise (100)
Bike Score®
Biker's Paradise (97)
PROPERTY TAXES
| Parcel Number | 881550402 | Total Assessment | $688,500 (2026) |
| Land Assessment | $206,550 (2026) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $481,950 (2026) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
881550402
Land Assessment
$206,550 (2026)
Improvements Assessment
$481,950 (2026)
Total Assessment
$688,500 (2026)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024
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Contact the Sale Advisor
5 units multi family | 238 S 22nd St
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