836-838 North Broad Street 836 N Broad St 35 Unit Apartment Building $13,000,000 ($371,429/Unit) 7.20% Cap Rate Philadelphia, PA 19130

836-838 North Broad Street is a mixed-use multifamily asset located along the North Broad Street corridor in Philadelphia, Pennsylvania. The Property is strategically positioned just north of Center City Philadelphia in an established residential neighborhood that continues to benefit from new development and investment throughout the surrounding area.
836-38 North Broad Street consists of 33 apartment units and two ground-floor commercial units. The residential component features a diverse mix of one studio, 13 one-bedroom, 14 two-bedroom, and five three-bedroom apartments, providing a variety of unit types suited to the surrounding rental market. The two commercial spaces are currently occupied and generate approximately $69,600 in annual rental income.
The Property offers strong in-place occupancy, with 32 of 33 apartment units currently occupied. Average in-place rents are approximately $2,464 for one-bedroom, $2,943 for two-bedroom, and $3,535 for three-bedroom units. The residential rent roll also benefits from a significant Philadelphia Housing Authority (PHA) component, providing an additional source of rental income across the majority of occupied units.
Residents benefit from the location along the North Broad Street corridor and immediate proximity to Center City Philadelphia. The surrounding area provides convenient access to restaurants, retailers, grocery stores, entertainment venues, and neighborhood-serving businesses throughout North Broad Street and nearby Center City.
The Property is well positioned with convenient access to SEPTA's Broad Street Line and multiple bus routes, providing direct connectivity throughout Philadelphia. Its central location also offers convenient access to major employment centers, universities, healthcare institutions, and cultural destinations throughout Center City and the surrounding neighborhoods.
Continued residential and commercial investment along North Broad Street has further strengthened the corridor as a desirable Philadelphia rental market. New construction and adaptive reuse projects throughout the surrounding area continue to add residential density and neighborhood amenities while supporting long-term rental demand.
836-838 North Broad Street is an opportunity to purchase a newly built, well-constructed multifamily asset in a centrally located Philadelphia submarket. Strong in-place occupancy, PHA-supported rental income, commercial income, and convenient access to Center City and public transportation provide new ownership with durable in-place cash flow and long-term investment potential.