Philly CRE is pleased to present 1230 N Marshall Street, a recently constructed 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 the opportunity to acquire a modern, low-maintenance, income-producing… Read More asset in one of Philadelphia's most active and rapidly appreciating residential corridors. The property will be delivered fully occupied, providing immediate stabilized income from day one. The building features two studios, three one-bedroom residences, and one spacious two-bedroom, two-bathroom unit, with each residence offering contemporary kitchens and bathrooms, efficient layouts, individual mechanical systems, and in-unit washers and dryers. The modern construction and highly functional unit mix create an attractive rental product designed to support strong tenant demand and long-term rent growth. Gross potential rent is approximately $9,277 per month, or $111,324 annually. Projected annual operating expenses total approximately $20,854, resulting in projected NOI of approximately $90,470. At the current asking price of $1,299,000, or approximately $216,500 per unit, the property offers a projected 6.96% capitalization rate and an attractive combination of current yield, newer construction, and long-term appreciation potential. Further strengthening the investment profile, 1230 N Marshall Street benefits from Philadelphia's current 10-year residential new-construction tax abatement program. As a 2024 asset, the property remains in the early years of its declining abatement schedule, providing meaningful real estate tax savings and helping support an efficient operating expense structure. The property is ideally positioned within walking distance of Girard Station and surrounded by the restaurants, retail, entertainment, nightlife, and continued development of Olde Kensington, Fishtown, and Northern Liberties. This highly desirable location continues to attract renters and investment while supporting sustained rental growth and long-term property values. Located within a Qualified Opportunity Zone, 1230 N Marshall Street may also provide additional benefits for qualifying investors. With 2024 construction, full occupancy at delivery, strong projected NOI, favorable tax-abatement benefits, modern building systems, and an exceptional location, this offering represents a compelling opportunity to acquire a turnkey multifamily investment positioned for durable cash flow and long-term value growth. Read Less
Courtesy of ERIC Andrew Dvotsky, BHHS Fox & Roach-Center City Walnut 215-627-6005
Listing Snapshot
Days Online
32
Last Updated
Property Type
Commercial
Square Ft.
4,800
Lot Size
0.04 Acres
Year Built
2024
MLS Number
PAPH2667554
Additional Details
Building
Built in 2024, Construction Materials: Masonry
Cooling
Central A/C
Accessibility Features
None
Heating
Forced Air, Heat Pump(s)
Income
Gross Income: $111,324, Net Operating Income: $90,470
This information is provided exclusively for consumers' personal, non-commercial use; that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that data is deemed reliable but is not guaranteed accurate by BrightMLS. Information may appear from many brokers but not every listing in BrightMLS is available. This content last updated on .
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