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Eze Okwodu

[email protected] +1(301) 559-2872

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

$ 849,000

Est. payment -/mo

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Price Dropped by $50K

1618 S BROAD ST Philadelphia, PA 19145

3,460 SqFt

UPDATED:

Key Details

Property Type Multi-Family, Townhouse

Sub Type Interior Row/Townhouse

Listing Status Active

Purchase Type For Sale

Square Footage 3,460 sqft

Price per Sqft $245

Subdivision Newbold

MLS Listing ID PAPH2587622

Style Contemporary

Abv Grd Liv Area 3,460

Year Built 1915

Annual Tax Amount $8,184

Tax Year 2025

Lot Size 1,476 Sqft

Acres 0.03

Lot Dimensions 18.00 x 82.00

Property Sub-Type Interior Row/Townhouse

Source BRIGHT

Property Description

Philly CRE Advisors proudly presents 1618 S Broad Street, a recently renovated and meticulously maintained multifamily asset prominently positioned along the highly visible Broad Street corridor in South Philadelphia's thriving Newbold neighborhood. Offering a compelling combination of in-place income and upside potential, this investment presents an exceptional opportunity for buyers seeking a turnkey asset in one of the city's most strategically located and steadily appreciating corridors. The property consists of three thoughtfully designed residential units featuring modern finishes, central air conditioning, in-unit laundry, and updated mechanical systems, delivering contemporary living with minimal near-term capital expenditure requirements. The unit mix includes Unit 1, a three-bedroom, two-bathroom residence leased at $2,100 per month; Unit 2, a two-bedroom, two-bathroom residence leased at $2,200 per month; and Unit 3, a two-bedroom, two-bathroom residence that is currently vacant, presenting an immediate value-add opportunity for a new owner. Based on current market conditions, Unit 3 is well-positioned to achieve approximately $2,400 per month, increasing the property's gross potential residential income to approximately $6,700 per month ($80,400 annually) upon lease-up. Located just steps from Jefferson Methodist Hospital, the South Philadelphia Sports Complex, the Navy Yard, and the award-winning restaurants, boutiques, and entertainment along East Passyunk Avenue, the property benefits from exceptional accessibility and a deep pool of prospective tenants. Immediate access to the Broad Street Line, SEPTA bus routes, Center City, I-76, and I-95 further enhances its appeal to young professionals, medical personnel, educators, and other renters seeking convenience and connectivity. With its strong in-place income, lease-up potential, and prime South Philadelphia location, 1618 S Broad Street represents an outstanding opportunity to acquire a high-quality multifamily asset in one of the city's most resilient and sought-after rental submarkets.

Location

State PA

County Philadelphia

Area 19145 (19145)

Zoning RSA5

Interior

Hot Water 60+ Gallon Tank

Heating Other

Cooling Ductless/Mini-Split

Fireplace N

Heat Source Electric

Exterior

Water Access N

Accessibility None

Garage N

Building

Foundation Stone

Above Ground Finished SqFt 3460

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 365009800

Ownership Fee Simple

SqFt Source 3460

Special Listing Condition Standard

Eze Okwodu

1618 S BROAD ST Philadelphia, PA 19145

Key Details

Location

Interior

Exterior

Building

Schools

Others

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1618 S BROAD ST