Contemporary
3817 WALLACE STREET
PHILADELPHIA, PA 19104
MLS#: PAPH2619704
$869,000
Property
Beds
10
Full Baths
None
1/2 Baths
None
Year Built
2020
Sq.Footage
4,021
3817 WALLACE STREET | PHILADELPHIA, PA 19104 Projected Gross Income of Approximately $82,800 Annually | Built in 2020 | Approximately 5 Years Remaining on Philadelphia's 10-Year Tax Abatement University City 4-Unit Investment Property 3817 Wallace Street presents a newer-construction four-unit multifamily investment opportunity in Philadelphia's University City neighborhood. Built in 2020 and totaling approximately 4,021 square feet, the property offers a combination of in-place income, modern construction, and remaining tax-abatement benefits. Current Rent Roll Unit 1 – 2 Bed / 2 Bath – Being shown – Estimated $1,500/month Unit 2 – 2 Bed / 2 Bath – Leased – $1,700/month Unit 3 – 3 Bed / 2 Bath – Leased – $1,600/month Unit 4 – 3 Bed / 2 Bath with Private Rooftop Terrace – Leased – $2,100/month Projected Gross Monthly Income: Approximately $6,900 Projected Gross Annual Income: Approximately $82,800 Property Highlights • Built in 2020 • Four residential units • Approximately 4,021 square feet • Two 2-bedroom / 2-bathroom units • Two 3-bedroom / 2-bathroom units • Private rooftop terrace for Unit 4 • Contemporary kitchens and finishes • Quartz countertops • Stainless steel appliances • Energy-efficient systems • Lower-maintenance newer construction • Three units currently leased • Approximately five years remaining on Philadelphia's 10-Year Tax Abatement Location Near University of Pennsylvania, Drexel University, CHOP, Penn Presbyterian Medical Center, 30th Street Station, public transportation, and Center City employment centers. Investment Summary 3817 Wallace Street offers investors a newer-construction multifamily asset with current rental income, one remaining lease-up opportunity, and meaningful remaining tax-abatement benefits.
Features & Amenities
Interior
-
Total Bedrooms
10
-
Bathrooms
N/A
-
Above Grade Finished Area
4021.0
-
Basement YN
YES
-
Cooling YN
YES
-
Cooling
Central Air, Electric
-
Fireplace YN
NO
-
Heating YN
YES
-
Heating
Natural Gas, Forced Air
-
Pet friendly
N/A
Exterior
-
Garage
No
-
Construction Materials
Brick
-
Parking
None
-
Pool
No
-
Waterfront YN
NO
Area & Lot
-
Lot Size(acres)
0.03
-
Lot Size(square feet)
1440.0
-
Property Type
Residential Income
-
Property Sub Type
Quadruplex
-
Architectural Style
Contemporary
Price
-
Sales Price
$869,000
-
Tax Amount
$1,505
-
Sq. Footage
4, 021
-
Price/SqFt
$216
HOA
-
Association
No
School District
-
Elementary School
N/A
-
Middle School
N/A
-
High School
N/A
Property Features
-
New Construction
NO
-
Sewer
Public Sewer
-
Tax Lot
117
-
Water Source
Public
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Location
County
PHILADELPHIA
Elementary School
Middle School
High School
Listing Courtesy of Gazi Ataseven , HomeSmart First Advantage Realty
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Owner, Chief Executive Officer, Portfolio Advisor
Todd Polinchock
Call Todd today to schedule a private showing.
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