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521 N 34th St
Philadelphia, PA 19104
521 N 34th St · Multifamily Property For Sale
·
11 Units
Investment Highlights
- Average Unit Size of 1,555 SF |100% Occupied
- In-Place NOI: $266,636 7.26%. |.Going-In Cap Rate
- Minimal Deferred Maintenance Anticipated
- Majority Three-Bedroom, Three-Bathroom Bi-Level Units
- 17,100 Rentable Square Feet |. Built in 2018
- Walking Distance to Drexel University and the University of Pennsylvania
Executive Summary
We are pleased to present 521 N 34th Street, an 11-unit multifamily investment opportunity located in the heart of Philadelphia's University City neighborhood.
Constructed in 2018, the property consists of 17,100 rentable square feet and features a highly desirable unit mix of eight bi-level three-bedroom, three-bathroom units, one two-bedroom, two-and-a-half-bathroom unit, and two one-bedroom, one-and-a-half-bathroom units. The asset is currently 100% occupied and generates approximately $266,636 in annual Net Operating Income.
Located within walking distance of Drexel University, the University of Pennsylvania, Penn Medicine, and numerous major employers, the property benefits from one of Philadelphia's strongest and most resilient rental markets. With modern construction, oversized floor plans averaging 1,555 square feet, and minimal anticipated capital expenditures, 521 N 34th Street offers investors a turnkey opportunity with durable cash flow and long-term appreciation potential.
Investment Highlights:?
Average Unit Size of 1,555 SF
Majority Three-Bedroom, Three-Bathroom Bi-Level Units
100% Occupied
In-Place NOI: $266,636
7.26% Going-In Cap Rate
17,100 Rentable Square Feet
Built in 2018
Walking Distance to Drexel University and the University of Pennsylvania
Minimal Deferred Maintenance Anticipated
Price: $3,675,000
Price/SF: $214.91
In-Place Cap Rate: 7.26%
Year 1 Cap Rate: 7.51%
Constructed in 2018, the property consists of 17,100 rentable square feet and features a highly desirable unit mix of eight bi-level three-bedroom, three-bathroom units, one two-bedroom, two-and-a-half-bathroom unit, and two one-bedroom, one-and-a-half-bathroom units. The asset is currently 100% occupied and generates approximately $266,636 in annual Net Operating Income.
Located within walking distance of Drexel University, the University of Pennsylvania, Penn Medicine, and numerous major employers, the property benefits from one of Philadelphia's strongest and most resilient rental markets. With modern construction, oversized floor plans averaging 1,555 square feet, and minimal anticipated capital expenditures, 521 N 34th Street offers investors a turnkey opportunity with durable cash flow and long-term appreciation potential.
Investment Highlights:?
Average Unit Size of 1,555 SF
Majority Three-Bedroom, Three-Bathroom Bi-Level Units
100% Occupied
In-Place NOI: $266,636
7.26% Going-In Cap Rate
17,100 Rentable Square Feet
Built in 2018
Walking Distance to Drexel University and the University of Pennsylvania
Minimal Deferred Maintenance Anticipated
Price: $3,675,000
Price/SF: $214.91
In-Place Cap Rate: 7.26%
Year 1 Cap Rate: 7.51%
Property Facts
Amenities
- Smoke Detector
Unit Amenities
- Air Conditioning
- Cable Ready
- Disposal
- Washer/Dryer
- Heating
- Ceiling Fans
- Eat-in Kitchen
- Hardwood Floors
- Refrigerator
- Oven
- Range
- Tub/Shower
- Dining Room
- Freezer
- Large Bedrooms
Site Amenities
- 24 Hour Access
- Controlled Access
- Smoke Free
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1.5 | 2 | - | 800 |
| 2+3 | 1 | - | 1,100 |
| 3+3 | 8 | - | 1,800 |
Property Taxes
| Parcel Number | 881812348 | Improvements Assessment | $2,054,450 |
| Land Assessment | $362,550 | Total Assessment | $2,417,000 |
Property Taxes
Parcel Number
881812348
Land Assessment
$362,550
Improvements Assessment
$2,054,450
Total Assessment
$2,417,000
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