For Sale

Description

Philly CRE is pleased to present 1230 N Marshall Street, a newly constructed, fully occupied six-unit multifamily asset in the heart of Olde Kensington, just steps from Girard Avenue and moments from Fishtown and Northern Liberties. Built in 2024, this boutique property offers investors a rare opportunity to acquire a stabilized, low-maintenance asset with high in-place income and long-term appreciation potential in one of Philadelphia’s fastest-growing corridors. The property is ideally positioned within walking distance to Girard Station on the Market-Frankford Line and surrounded by multiple SEPTA bus routes along Girard Avenue, providing seamless access to Center City, University City, and beyond. Residents benefit from a highly walkable location with immediate access to the vibrant dining, retail, and nightlife scenes of Olde Kensington, Fishtown, and Northern Liberties, driving consistent rental demand from young professionals. The unit mix includes two studio units, three one-bedroom units, and one two-bedroom two-bathroom unit, all thoughtfully designed with modern layouts that maximize efficiency and tenant appeal. Unlike many competing multifamily assets in the area, the property is fully occupied with strong in-place market-rate tenancy and no PHA-backed leases, offering investors a traditional private-pay tenant profile with significant long-term rental upside and flexibility. Constructed with high-end finishes throughout, each unit features modern kitchens, updated bathrooms, and well-proportioned layouts tailored to today’s renter. All units are separately metered and equipped with individual mechanical systems, allowing for streamlined management and reduced landlord expenses, and each unit includes an in-unit washer and dryer to further enhance tenant convenience and retention. Further strengthening the investment profile, the property benefits from original full ten-year tax abatement with approximately eight years remaining, significantly reducing operating expenses and boosting overall returns. At the current asking price of $1,400,000, the asset delivers a 6.89 percent cap rate, 4.28 percent cash on cash return, and a DSCR of 1.18 based on in-place income, with an NOI of $96,697 and projected annual cash flow after debt of $14,794, positioning investors for immediate yield with additional upside as rents continue to grow in this evolving submarket. Located within a Qualified Opportunity Zone, 1230 N Marshall Street may also provide additional tax advantages for investors focused on long-term wealth creation. As an added incentive, the offering includes one year of free property management, providing immediate operational support and increased net income for investors. Take advantage of this exceptional opportunity to secure a turnkey, high-yielding investment with built-in management support and long-term growth potential.