327 N 40TH ST Philadelphia, PA 19104
2,950 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 2,950 sqft
Price per Sqft $627
MLS Listing ID PAPH2537876
Style Other
Abv Grd Liv Area 2,950
Year Built 2017
Annual Tax Amount $2,358
Tax Year 2024
Lot Size 3,049 Sqft
Acres 0.07
Property Sub-Type Other
Source BRIGHT
Property Description
Powelton Village, adjacent to University City, Philadelphia. Constructed in 2018, the building features large, high-yielding units with premium finishes, private outdoor spaces, and in-unit laundry. The unit mix includes a majority of larger-than-average four-bedroom units, along with two- and threebedroom
units. Positioned just blocks from UPenn, Drexel University, Penn Presbyterian
Medical Center, and the Market-Frankford Line, 327 N 40th offers an investor secure long-term returns in one of the city's strongest rental corridors. The property is currently fully leased and generates $14,746/month in gross income. Offered at a 7.74% cap rate, the building has over 3 years on the
remaining tax abatement and $238/SF, this is a rare opportunity to acquire a stabilized, income-generating property in a premier university-adjacent submarket.
Location
State PA
County Philadelphia
Area 19104 (19104)
Zoning RM1
Interior
Hot Water Natural Gas
Heating Central
Cooling Central A/C
Heat Source Electric
Exterior
Water Access N
Accessibility None
Garage N
Building
Sewer Public Sewer
Water Public
Architectural Style Other
Additional Building Above Grade
New Construction N
Schools
School District Philadelphia City
Others
Tax ID 881161740
Ownership Fee Simple
SqFt Source 2950
Acceptable Financing Cash, Negotiable
Listing Terms Cash, Negotiable
Financing Cash,Negotiable
Special Listing Condition Standard
