4219 Filbert St, Philadelphia, PA 19104

Description

We are pleased to present a turnkey, fully leased investment opportunity in the highly desirable University City section of Philadelphia on a cul de sac street. This purpose-built young professional housing building comprises 4 units with a total of 10 bedrooms and 10 bathrooms, offering a diverse mix of 2- and 3-bedroom units. Currently generating about $8,200 in monthly rental income with low expenses and maintenance, this investment boasts a 6.8% cap rate. This property has always been 100% leased with 0% vacancy and is leased until the end of the school year 2027. This property has primarily attracted grad students from both Drexel and UPenn, medical staff and young professionals working in the local hospitals. Constructed just 6 years ago, the building has been impeccably maintained, everything is up to date, with 4 years remaining on their property TAX ABATEMENT. The generously sized units feature high-end finishes, including a 1 BED TO 1 BATH RATIO and premium kitchen and bathroom fixtures. These attributes make the properties highly competitive compared to nearby options, ensuring they remain easy to rent for years to come. Additional amenities include in-unit laundry, video surveillance entrances, sprinklered fire systems, high ceilings, large closets, luxury vinyl flooring, quartz countertops with stainless steel appliances, rooftop decks with skyline views, outdoor backyards, roof deck and more. This investment represents a tremendous opportunity to acquire strong-performing, never-vacant, and low-maintenance asset in a well-known, walkable, and bike-friendly neighborhood experiencing significant growth and expansion with major projects underway featuring over 33 million square feet of lab, residential, institutional, office, and public space in the pipeline at major developments like uCity Square and Schuylkill Yards, plus individual projects throughout the district.(ask us for more details on this). Conveniently located within walking distance to world-class universities, medical facilities, 30th Street Station, and the Art Museum, these properties also offer easy access to local highways.
The Owner and Manager had built these units and maintained them to keep for many years.