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Stacey Caito

sncaito1@gmail.com +1(703) 957-9643

Listed by ERIC Dvotsky • BHHS Fox & Roach-Center City Walnut

$1,070,000

Est. payment - /mo

3,768 SqFt

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UPDATED:

Key Details

Property Type Multi-Family, Townhouse

Sub Type Interior Row/Townhouse

Listing Status Active

Purchase Type For Sale

Square Footage 3,768 sqft

Price per Sqft $283

MLS Listing ID PAPH2611078

Style Contemporary

Abv Grd Liv Area 3,768

Year Built 2020

Annual Tax Amount $1,581

Tax Year 2025

Lot Size 1,536 Sqft

Acres 0.04

Lot Dimensions 16.00 x 99.00

Property Sub-Type Interior Row/Townhouse

Source BRIGHT

Property 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.

Location

State PA

County Philadelphia

Area 19122 (19122)

Zoning RM1

Interior

Hot Water Electric

Heating Central

Cooling Central A/C

Fireplace N

Heat Source Natural Gas

Exterior

Water Access N

Accessibility None

Garage N

Building

Foundation Slab

Above Ground Finished SqFt 3768

Sewer Public Sewer

Water Public

Architectural Style Contemporary

Additional Building Above Grade, Below Grade

New Construction N

Schools

School District Philadelphia City

Others

Tax ID 202114100

Ownership Fee Simple

SqFt Source 3768

Special Listing Condition Standard

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Stacey Caito

+1(703) 957-9643

Agent | License ID: 0225222157

Agent License ID: 0225222157

2010 N 8TH ST Philadelphia, PA 19122

Stacey Caito

Key Details

Location

Interior

Exterior

Building

Schools

Others

Nearby Locations

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