1505 N 17th St, Philadelphia, PA 19121

Property Description

GREAT INVESTMENT OPPORTUNITY! Introducing 1505 N. 17th St., a modern, fully leased eight-unit multifamily building in Philadelphia. Completed in 2021, this four-story property features an ELEVATOR, spacious contemporary residences, and five years remaining on its 10-year tax abatement. Offered at a 9.41% cap rate with monthly rental income of $13,495, totaling $161,940 annually, this property presents a compelling opportunity for investors seeking an income-producing addition to their portfolio. FULLY LEASED THROUGH THE END OF JULY 2027! Every apartment is leased through July 2027, providing established rental income and a clear lease timeline for the next owner. The building includes TWO THREE-BEDROOM, THREE-BATHROOM apartments and SIX TWO-BEDROOM, TWO-BATHROOM apartments. This desirable unit mix offers residents the convenience of an equal number of bedrooms and bathrooms. The apartments feature very modern, spacious interiors with generous living areas and a contemporary feel throughout. EVERY APARTMENT FEATURES ITS OWN IN-UNIT WASHER AND DRYER, individual water heater, and dedicated HVAC system providing CENTRAL HEAT AND CENTRAL AIR CONDITIONING. All appliances and heating, cooling, and water-heating systems operate on electricity. These individual systems allow residents to control their own apartment’s temperature while enjoying the convenience of laundry within their home. FULLY KEYLESS BUILDING! Both the main building entrance and every individual apartment feature coded keypad access, providing convenient entry without physical keys. An intercom system allows residents to communicate with visitors before granting building access. BUILDING SECURITY FEATURES include security cameras throughout the hallways and on the exterior. Each apartment also has its own individual alarm system, which can be activated by the tenant. Exterior floodlights provide additional illumination around the property, complementing the building’s camera coverage, keypad entry, and individual apartment alarm systems. FREE STREET PARKING IS AVAILABLE IN FRONT OF THE BUILDING 24/7, subject to space availability and posted restrictions. Elevator access provides convenient travel between the building’s four floors, adding another practical amenity for residents and visitors. With all apartments leased through July 2027, five years remaining on the tax abatement, and a combination of modern residences, individual apartment systems, and convenient building amenities, 1505 N. 17th St. offers an attractive opportunity for experienced investors and buyers expanding their multifamily holdings. AT LEAST 24 HOURS’ ADVANCE NOTICE IS REQUIRED FOR ALL SHOWINGS. Please coordinate appointments in advance to accommodate the occupied residences. All information, including unit count, lease terms, rental income, expenses, cap rate, construction date, tax abatement status and remaining term, parking availability, utilities, and building features, must be independently verified by the buyer and buyer’s representatives. One listing agent is related to the owner.