Description
2331-33 N 33rd Street, a newly constructed, fully stabilized six-unit multifamily property ideally situated across from Fairmount Park in North Philadelphia. The property has 9 years remaining on Philadelphia’s 10-Year Step-Down Tax Abatement program, which significantly reduces rea estate taxes in the eary years of ownership and enhances investor returns. Completed in 2024 and fully leased in early 2025, this turnkey investment features brand-new building systems, condo-grade interiors, and a balanced unit mix that includes premium 3-bedroom units with private roof decks. Ideally located across from Fairmount Park and minutes from the Art Museum and Brewerytown, the property benefits from strong renta demand driven by proximity to outdoor amenities, neighborhood retail, and rapid access to Center City. The asset generates almost $10,000 per month in gross renta income, benefiting from Phiadephia’s 10-year step-down tax abatement, which starts at 100% in Year 1 and phases out annually. Offered at a 7.25% cap rate and $196.38 per SF, this offering represents an excellent opportunity to acquire a cash-flowing multifamily asset in a high growth corridor at an attractive basis. We have been exclusively retained to market the property and welcome inquiries from qualified investors.
- Principal and Interest
- Property Tax
- HOA fee
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