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Listed by Reda Akbil • Compass Pennsylvania, LLC
$ 1,600,000
Est. payment /mo
New
717 N 35TH ST Philadelphia, PA 19104
2,031 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Sub Type Five Or More Units
Listing Status Active
Purchase Type For Sale
Subdivision Mantua
MLS Listing ID PAPH2671270
Year Built 2024
Available Date 2026-09-29
Annual Tax Amount $4,315
Tax Year 2026
Lot Size 2,031 Sqft
Acres 0.09
Property Sub-Type Five Or More Units
Source BRIGHT
Property Description
Welcome to 717 N 35th Street, a newer-construction five-unit multifamily investment opportunity located in Philadelphia's University City market. Built in 2023, this fully occupied asset offers investors immediate stabilized income, modern construction, and approximately seven years remaining on Philadelphia's tax abatement, creating an attractive combination of current cash flow, low near-term capital expenditure exposure, a turnkey asset, and long-term investment potential.
The property consists of five occupied residential units, is currently fully leased, and generates $10,854 per month
All residents currently participate in the Section 8 Housing Choice Voucher Program, . PHA payments represent approximately 66% of the property's current base rental income, providing an established income structure with guaranteed rent, while offering investors exposure to one of Philadelphia's strongest rental markets.
Built only a few years ago, 717 N 35th Street provides the advantages of newer construction, modern building systems, contemporary residential layouts, and substantially less deferred maintenance than much of Philadelphia's multifamily inventory. The property is already stabilized and occupied, allowing a new owner to acquire an income-producing asset from day 1 without assuming the renovation and lease-up risk commonly associated with value-add multifamily investments.
Located near University City, the property benefits from convenient access to major universities, hospitals, employment centers, public transportation, Center City, and the continued residential and institutional investment occurring throughout West Philadelphia.
Whether completing a 1031 exchange, expanding an existing Philadelphia multifamily portfolio, or acquiring a stabilized newer-construction rental property, 717 N 35th Street presents an opportunity to acquire a fully occupied five-unit asset generating approximately $130,248 in annual income with low expenses and guaranteed Section 8 tenancy, newer construction, and approximately seven years remaining on its tax abatement.
The property consists of five occupied residential units, is currently fully leased, and generates $10,854 per month
All residents currently participate in the Section 8 Housing Choice Voucher Program, . PHA payments represent approximately 66% of the property's current base rental income, providing an established income structure with guaranteed rent, while offering investors exposure to one of Philadelphia's strongest rental markets.
Built only a few years ago, 717 N 35th Street provides the advantages of newer construction, modern building systems, contemporary residential layouts, and substantially less deferred maintenance than much of Philadelphia's multifamily inventory. The property is already stabilized and occupied, allowing a new owner to acquire an income-producing asset from day 1 without assuming the renovation and lease-up risk commonly associated with value-add multifamily investments.
Located near University City, the property benefits from convenient access to major universities, hospitals, employment centers, public transportation, Center City, and the continued residential and institutional investment occurring throughout West Philadelphia.
Whether completing a 1031 exchange, expanding an existing Philadelphia multifamily portfolio, or acquiring a stabilized newer-construction rental property, 717 N 35th Street presents an opportunity to acquire a fully occupied five-unit asset generating approximately $130,248 in annual income with low expenses and guaranteed Section 8 tenancy, newer construction, and approximately seven years remaining on its tax abatement.
Location
State PA
County Philadelphia
Area 19104 (19104)
Zoning RM1
Interior
Hot Water 60+ Gallon Tank
Cooling Central A/C
Flooring Luxury Vinyl Plank, Tile/Brick
Heat Source Electric
Exterior
Water Access N
Accessibility None
Garage N
Building
Sewer Public Sewer
Water Public
New Construction Y
Schools
School District Philadelphia City
Others
Tax ID 881822867
Ownership Fee Simple
Special Listing Condition Standard
NEARBY SCHOOLS & PROPERTIES