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Reda Akbil

638 N 39th St

$219,000 638 N 39th St, Philadelphia, PA 19104
Introducing a Prime Investment Opportunity in University City and Mantua area with an 8%+ cap rate on a turnkey project

This opportunity presents a truly shovel-ready LAND for a multi-family property boasting 4 units, approved FULL 10 year TAX ABATEMENT as opposed to the prorated one and a projected annual rental income of $87,000, offering an 8%+ cap rate.

Key Features:
Fully Permitted: Zoning and building permits are paid for and in hand, ensuring a smooth and efficient development process. All MEP's, structural, soil test, etc are done and paid for.
Income Potential: With a thoughtfully designed layout featuring a mix of 2 to 3-bedroom units, this property is poised to generate substantial rental income in a high-demand area.
Turnkey Solution: The seller offers the option for a fully turnkey development, providing the option to build it for the new owner, providing a seamless experience for potential buyers.
Hassle-Free Management: The seller provides the option to fully lease and manage the building in-house, offering convenience and peace of mind for investors.
Seller Financing can be an option.

Location Highlights:
Booming Area: University City and Mantua are experiencing a surge of developments, driven by the growing demand from students and young professionals in the medical and educational industries.
Nearby Developments: The area is seeing major developments like uCity Square and Schuylkill Yards,
plus individual projects throughout the district. Additionally, the prestigious "Haverford Square" project is a testament to the immediate area's growth, featuring a mix of multi-family and mixed-use developments with 166+ unit development including some rentals, and for sale townhomes, that will span several adjacent sites and include a large supermarket, 15,000-SF ambulatory medical center, a cafe, and public gathering space, retail space. parks, etc.

Don't miss out on this exceptional investment opportunity in a rapidly growing area. Contact me today to learn more and secure your stake in this thriving market!
  • For Sale
    Status

Features & Amenities

Area & Lot

  • Status: For Sale
  • Lot Size: 1,170 Sq.Ft.
  • MLS® ID: PAPH2336278
  • Type: Land
  • School District: PHILADELPHIA CITY

Exterior & Building

  • Water Source: Public
  • Sewer: Public Sewer

Financial

  • Sales Price: $219,000
  • Real Estate Tax: $393/yr

638 N 39th St

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