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1222 N 2nd StPhiladelphia, PA 19122
Corner 2nd Apartments
Asset ClassMultifamily
Net Operating Income$2.48 Million
# Units: 71Square Feet: 92,756Net Operating Income: $2.48 MillionAccess Data Room
Core Plus Multifamily - Bid Deadline September 12
overview of deal

Overview

BID DEADLINE 9/12/24

 

Hilco Real Estate is pleased to present the opportunity to acquire a recently completed Class A Multifamily property steps from the trendy neighborhood of Northern Liberties Philadelphia. This former industrial area is now a hotspot loaded with galleries, boutiques, restaurants, craft beer halls, unique shops and much more.

 

The property was recently completed and received its Certificate of Occupancy in April of 2024 and the 10 year tax abatement begins in 2025. Corner 2nd offers a mix of 71 rental units and 9,570 square feet of commercial space plus 20 garage parking spaces. There is an amenity room on each floor, a large lobby/recreation area and also a dog washing facility located just off the lobby. The spacious units are concrete loft style with exposed concrete ceilings and pillars with floor to ceiling windows. They have all been designed with luxurious finishes including waterfall quartz counters, modern cabinetry and Samsung appliances.

 

The Corner 2nd Apartments offer an investor the opportunity to add to an existing portfolio or break into the hot Northern Liberties neighborhood.

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Investment Highlights

Net Operating Income
$2.48 Million
# Units
71
Parking Spaces
25 Spaces
Square Feet
92,756
Year Built
2024
MSA
Philadelphia
  • $2.48M Stabilized NOI
  • 10 Year Tax Abatement, pay no taxes on improvements until 2035
  • Brand New Construction, no deferred maintenance.
  • WalkScore of 98
  • Two blocks from Girard SEPTA station
  • Designed by Harman Deutsch Architecture
  • Excellent shopping, dining and nightlife nearby
  • Situated between Northern Liberties and Fishtown
  • 20 garage parking spots
  • 9,570 sf of leased commercial space
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1222 N 2nd StPhiladelphia, PA 19122
Piazza at Schmidt's
Liberty Lands Park
2nd Street Corridor
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