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11 Unit Building in University City – Tax Abatement – $3.9M

11 Unit Building in University City – Tax Abatement – $3.9M
521 N 34th Street, Philadelphia, PA 19104
Property Description:
Incredible 11 units apartment building located near Drexel University. Completed in 2015 and TAX ABATEMENT started in 2020. High end finishes, high quality construction. Fully occupied rent roll $23,275 per month. Very low expenses. 8 units 3 bedrooms 3 bathrooms. 2 units 1 bedroom 1 bathroom and one unit 2 bedroom 2 bathroom.
CAP RATE – 6.46%
Units feature Hardwood floors, stainless steel appliances, W/D in units.
528-40 N 34th St, Philadelphia, PA 19104
14,800 sq 15 units just sold for $5.5M
Building Details:
3 story
11 units (28 rooms)
11,700 sq ft
Zoned as RSA-5 – Zoning Variance for 11 unit
Annual tax $3312
Sold “as-is”
Showings by appointment only. Please review pictures, videos, and Income/Expense reports before making an appointment. To schedule an appointment, the buyer must provide POF, LOI, and 24-48 notice to coordinate with tenants.
Showings to serious buyers ONLY with POF provided.
Asking Price: $3,900,000
Please see photos and videos here: https://buff.ly/3p0z5WL
Please see income/expense report here:

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