Newly constructed multifamily building in University City, just steps from Drexel and UPenn. This fully leased property offers 11 apartments with 33 bedrooms and 33 bathrooms over 1,500 SF of retail space. Each unit features private bathrooms, large living areas, and modern finishes. 10-year tax abatement. With an annual gross income of $304K, operating expense of $44K, and net income (NOI) of $260K, this property offers a strong 7.2% cap rate. Ideal for investors seeking a turnkey asset in a prime, high-demand location — UCITY — the fastest-growing rental submarket in Philadelphia, a Top-10 USA MSA (population) and Top-5 USA MSA for Life Sciences. The Eds & Meds economy powers this district and provides the community with insatiable, perennial rental demand, insulating investment properties for years to come.
Listed by Or Aharon
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License #RS354310
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Keller Williams Liberty Place
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2672706634
Last updated June 20, 2025
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Source: BrightMLS #PAPH2423062
Listing Facts
TypeMulti-family
NeighborhoodMantua
Days on Prevu288
Taxes$8,398/year
Size13,822 sqft
Price per sqft$260
Location
Mortgage Calculator
Listing History
06/20/2025
Price Decreased
$3,600,000
01/15/2025
Status changed to Active
$3,750,000
01/14/2025
Status changed to Removed from Feed
$3,750,000
01/09/2025
Price Decreased
$3,750,000
11/25/2024
Listed by Keller Williams Liberty Place
$4,000,000
Property Details for 619 N 35TH Street
Exterior
Construction
New Construction: No
Number Of Units Total: 2
Stories Total: 3
Year Built: 1920
Architectural Style: Unit/Flat, Split Level
Construction Materials: Masonry
Features
Other Structures: Above Grade
Waterfront: No
Measurements
Lot Dimensions Source: Estimated
Lot Size Acres: 0.14
Lot Size Dimensions: 60
Lot Size Source: Estimated
Lot Size Square Feet: 6,000
Lot Size Units: Square Feet
Financial
Residential Income
Cap Rate: 7.2
Operating Expense: $52,972.09
Taxes
Tax Annual Amount: $8,398.00
Tax Year: 2024
Interior
Measurements
Living Area: 13,822
Living Area Source: Estimated
Rooms
Rooms Total: 34
Other
Features
Accessibility Features: Other, Level Entry - Main
Parking
Parking
Garage: No
Utilities
Equipment
Cooling: Central A/C
Heating: Central
Has Heating: Yes
Sewer: Public Sewer
Water Source: Public
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Rebate estimate is indicative only and based on listing price and estimated buyer's agent commission paid by owner, if applicable. Final rebates are subject to Terms of Use and may vary due to final negotiated transaction terms.
