Property
Philadelphia, PA 19104 619 N 35Th Street
$3,600,000
12 more
Presented By: Keller Williams Liberty Place
Beds • 30
Home Details
Newly constructed multifamily building in University City, just steps from Drexel and UPenn. This fully leased property offers 11 apartments with 33 bedrooms and 33 bathrooms over 1,500 SF of retail space. Each unit features private bathrooms, large living areas, and modern finishes. 10-year tax abatement. With an annual gross income of $304K, operating expense of $44K, and net income (NOI) of $260K, this property offers a strong 7.2% cap rate. Ideal for investors seeking a turnkey asset in a prime, high-demand location UCITY the fastest-growing rental submarket in Philadelphia, a Top-10 USA MSA (population) and Top-5 USA MSA for Life Sciences. The Eds & Meds economy powers this district and provides the community with insatiable, perennial rental demand, insulating investment properties for years to come.
Presented By: Keller Williams Liberty Place
Interior Features for 619 N 35Th Street
Bedrooms
Three Bedroom Units Count7
Other Interior Features
LivingAreaSourceEstimated
Central Air Y/NYes
Heating FuelElectric
Heating Y/NYes
Hot WaterElectric
Total Stories3
General for 619 N 35Th Street
Acceptable FinancingCash, Other, Conventional
AccessibilityOther, Level Entry - Main
Architectural StyleUnit/Flat, Split Level
Cap Rate7.20
CityPHILADELPHIA
Construction MaterialsMasonry
Cool FuelElectric
CoolingCentral A/C
CountyPHILADELPHIA
Directionsuse gps
DisclosuresUnder Lease
Garage Y/NNo
HeatingCentral
Lease TypeTriple Net
Lot Size Square Feet6000.00
Lot Size UnitsSquare Feet
MLS Area19104 (19104)
ModificationTimestamp2025-06-20T17:38:42
MunicipalityPHILADELPHIA
New ConstructionNo
Number Of Units Total2
Number of Units Leased12
NumberOfUnitsVacant
One Bedroom Units Count1
Operating Expense52972.09
Other StructuresAbove Grade
OwnershipFee Simple
Possession0-30 Days CD, 31-60 Days CD, 61-90 Days CD, Settlement
Price Per Sq Ft Total AG260.45
Property SubtypeOther
Property TypeMulti-Family
Rent Control Y/NNo
School DistrictTHE SCHOOL DISTRICT OF PHILADELPHIA
SewerPublic Sewer
Single Room Units Count0
Standard StatusActive
StatusACTIVE
Structure TypeDetached
Tax Annual Amount8398.0
Tax Assessed Value600000.0
Tax Year2024
Total Rooms34
Total SQFT13822
Two Bedroom4
Vacation Rental Y/NNo
Water Access Y/NNo
Year Built1920
Year Built SourceEstimated
ZoningCMX2
Exterior for 619 N 35Th Street
Foundation DetailsConcrete Perimeter, Other
Land Assessed Value120000.00
Land Use CodeY30
Lot Dimensions60.00 x 100.00
Lot Size Acres0.14
Lot Size SourceEstimated
LotDimensionsSourceEstimated
Navigable Water Y/NNo
PoolNo Pool
Total Parking Spaces0
Type of ParkingNone
Water Oriented Y/NNo
Water SourcePublic
Water View Y/NNo
Waterfront Y/NNo
Additional Details
Price History
Charles Torres
Owner
Price
$3,600,000
MLS#PAPH2423062
List Date
11/25/2024
Property Type
Multi-Family
Phone
(973) 332-3023