2010 N 8th St,PHILADELPHIA, PA 19122
PHILADELPHIA, PA 19122
Description
Philly CRE is proud to present 2010 N 8th Street, a standout turnkey four-unit multifamily investment built in 2021 and ideally positioned just minutes from Temple University. This exceptional asset features four oversized three-bedroom, three-bathroom units across a unique two-building configuration, with each structure designed as a duplex and offering access to a private backyard. Both buildings sit on a single parcel, presenting the rare potential for a future subdivision, creating additional exit strategies and long-term value for investors. The property benefits from the original 10-year tax abatement with approximately 5 1/2 years remaining, significantly enhancing cash flow and overall returns. Each unit is finished with modern, high-quality materials, spacious layouts, and functional floor plans that consistently attract both student renters and workforce tenants. All units are currently leased to PHA tenants, delivering stable, predictable, government-backed income from day one. In-place rents further highlight the strength of the asset, with Unit 1 at $2,300, Unit 2 at $2,038, Unit 3 at $2,300, and Unit 4 at $1,970. These figures support a strong 1.38 DSCR, an impressive 8.05 percent cap rate, and an 8.86 percent cash-on-cash return, offering immediate performance with clear upside through future rent increases and lease renewals. Surrounded by ongoing development and new construction, the property is located in a high-demand rental pocket experiencing continued appreciation. Its proximity to Temple University, along with convenient access to Northern Liberties and Fishtown, ensures sustained tenant demand and long-term rental growth. The property is also situated within a Qualified Opportunity Zone, offering potential tax advantages for investors seeking both income and appreciation. With modern construction, PHA-backed tenancy, strong in-place rents, exceptional return metrics, approximately eight years remaining on the tax abatement, and the flexibility of two duplex buildings on a potentially separable parcel, 2010 N 8th Street represents a rare opportunity to acquire a high-performing, low-maintenance asset in one of Philadelphia's fastest-growing submarkets. Capitalize on this opportunity to secure a turnkey, high-yielding investment with strong in-place cash flow and long-term growth potential.
Details
| MLS # | PAPH2669012 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active-bright |
| Year | 2020 |
| Days On Site | 36 |
| Listing Provided By | BHHS Fox & Roach-Center City Walnut | ERIC Andrew Dvotsky |
Features
| SQ Feet | 3,768 |
|---|---|
| Units | 4 |
| Zoning | RM1 |
| Acreage | 0.04 |
Interior
| Cooling | Central A/C |
|---|---|
| Heating Yes / No | Yes |
| Heating | Central |
Exterior
| Construction Materials | Frame, Brick |
|---|---|
| Foundation Details | Slab |
Parking
| Garage Yes / No | No |
|---|
Taxes
| Tax Annual Amount | 1581 |
|---|
Area Information
| State | PA |
|---|---|
| County | PHILADELPHIA PA |
| City | PHILADELPHIA |
| Zip Code | 19122 |
| Area | 19122 (19122) |
| School District | PHILADELPHIA CITY |
| Listing VS Median (in 19122) | |
Price: $1,049,000 low | high Med: $235,000 sqft: 3,768 low | high Med: 1,026 $ / sqft: $278 low | high Med: $229 On site: 36 low | high Med: 124 | |
Market Activity 19122
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Learn More About This Property
| State | PA |
|---|---|
| County | PHILADELPHIA PA |
| City | PHILADELPHIA |
| Zip Code | 19122 |
| Area | 19122 (19122) |
| School District | PHILADELPHIA CITY |
| Listing VS Median (in 19122) | |
Price: $1,049,000 low | high Med: $235,000 sqft: 3,768 low | high Med: 1,026 $ / sqft: $278 low | high Med: $229 On site: 36 low | high Med: 124 | |
