1204 W Erie Ave Philadelphia, PA 19140 | 1204 Erie Ave
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1204 W Erie Ave Philadelphia, PA 19140 1204 Erie Ave
3 Unit Apartment Building $1,145,822 CAD ($381,941 CAD/Unit) 7.50% Cap Rate Philadelphia, PA 19140
Executive Summary
Attention investors!
Take a look at this new construction Triplex located in the bustling area of Temple Hospital!
- Ground floor/lower level is a large 1,866sf 3bed/3bath bi-level unit with private rear yard access from both levels.
- 2nd floor unit is 2bed/2bath at 933sf.
- 3rd floor consisting of a 2bed/2bath unit with a private roofdeck.
This triplex should be completed by September 1st with C/O in hand.
With the anticipated rental value of $5000-$5400/month, this building is expected to have to have a CAP rate of anywhere between 7-8%.
Located a short walk to the Broad St Line, Temple Hospital, Shriners Hospital, and multiple bus routes, this location is tough to beat!
There are multiple developments in various phases all around this property including the Buery Building on Broad St near W Erie Ave - demolition has begun (conversion to a proposed hotel according to public records).
And... we can't forget the street improvements that are going on right now!
Don't miss an opportunity to invest in this area before it's too late!!
Take a look at this new construction Triplex located in the bustling area of Temple Hospital!
- Ground floor/lower level is a large 1,866sf 3bed/3bath bi-level unit with private rear yard access from both levels.
- 2nd floor unit is 2bed/2bath at 933sf.
- 3rd floor consisting of a 2bed/2bath unit with a private roofdeck.
This triplex should be completed by September 1st with C/O in hand.
With the anticipated rental value of $5000-$5400/month, this building is expected to have to have a CAP rate of anywhere between 7-8%.
Located a short walk to the Broad St Line, Temple Hospital, Shriners Hospital, and multiple bus routes, this location is tough to beat!
There are multiple developments in various phases all around this property including the Buery Building on Broad St near W Erie Ave - demolition has begun (conversion to a proposed hotel according to public records).
And... we can't forget the street improvements that are going on right now!
Don't miss an opportunity to invest in this area before it's too late!!
Property Facts
| Price | $1,145,822 CAD | Apartment Style | Townhome |
| Price Per Unit | $381,941 CAD | Building Class | B |
| Sale Type | Investment | Lot Size | 0.03 AC |
| Cap Rate | 7.50% | Building Size | 3,720 SF |
| No. Units | 3 | No. Stories | 4 |
| Property Type | Multifamily | Year Built | 2024 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Price | $1,145,822 CAD |
| Price Per Unit | $381,941 CAD |
| Sale Type | Investment |
| Cap Rate | 7.50% |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Townhome |
| Building Class | B |
| Lot Size | 0.03 AC |
| Building Size | 3,720 SF |
| No. Stories | 4 |
| Year Built | 2024 |
| Opportunity Zone |
Yes |
Unit Amenities
- Air Conditioning
- Dishwasher
- Washer/Dryer
- Kitchen
- Granite Countertops
- Refrigerator
- Vinyl Flooring
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 1 | $2,295 CAD | 925 |
| 3+3 | 1 | $3,012 CAD | 1,850 |
| 2+2 | 1 | $2,581 CAD | 925 |
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Walk Score ®
Very Walkable (83)
Transit Score ®
Excellent Transit (80)
PROPERTY TAXES
| Parcel Number | 432055900 | Improvements Assessment | $0 CAD |
| Land Assessment | $45,773 CAD | Total Assessment | $45,773 CAD |
PROPERTY TAXES
Parcel Number
432055900
Land Assessment
$45,773 CAD
Improvements Assessment
$0 CAD
Total Assessment
$45,773 CAD
zoning
| Zoning Code | RM1 (Residential Multi-Family) |
| RM1 (Residential Multi-Family) |
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1204 W Erie Ave Philadelphia, PA 19140 | 1204 Erie Ave
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