Welcome to 717 N 35th Street, a newer-construction five-unit multifamily investment opportunity located in Philadelphia’s University City market. Built in 2023, this fully occupied asset offers investors immediate stabilized income, modern construction, and approximately seven years remaining on Philadelphia’s tax abatement, creating an attractive combination of current cash flow, low near-term capital expenditure exposure, a turnkey asset, and long-term investment potential.
The property consists of five occupied residential units, is currently fully leased, and generates $10,854 per month
All residents currently participate in the Section 8 Housing Choice Voucher Program, . PHA payments represent approximately 66% of the property’s current base rental income, providing an established income structure with guaranteed rent, while offering investors exposure to one of Philadelphia’s strongest rental markets.
Built only a few years ago, 717 N 35th Street provides the advantages of newer construction, modern building systems, contemporary residential layouts, and substantially less deferred maintenance than much of Philadelphia’s multifamily inventory. The property is already stabilized and occupied, allowing a new owner to acquire an income-producing asset from day 1 without assuming the renovation and lease-up risk commonly associated with value-add multifamily investments.
Located near University City, the property benefits from convenient access to major universities, hospitals, employment centers, public transportation, Center City, and the continued residential and institutional investment occurring throughout West Philadelphia.
Whether completing a 1031 exchange, expanding an existing Philadelphia multifamily portfolio, or acquiring a stabilized newer-construction rental property, 717 N 35th Street presents an opportunity to acquire a fully occupied five-unit asset generating approximately $130,248 in annual income with low expenses and guaranteed Section 8 tenancy, newer construction, and approximately seven years remaining on its tax abatement.
