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632-634 N 2nd St 4 Unit Apartment Building £1,307,775 (£326,944/Unit) 6.23% Net Initial Yield Philadelphia, PA 19123
INVESTMENT HIGHLIGHTS
- Prime corner location in Northern Liberties’ thriving commercial corridor.
- Strong credit tenancy with Chase Bank as an anchor tenant.
- Surrounded by top dining, retail, and entertainment destinations.
- Fully leased mixed-use property with two retail spaces and four apartments.
- Residential units leased below market rates, offering value-add potential.
- CMX-2.5 zoning allows for future redevelopment flexibility.
EXECUTIVE SUMMARY
632-34 N 2nd Street offers a rare stabilized investment opportunity in the heart of Northern Liberties, one of Philadelphia’s most dynamic neighborhoods. This mixed-use property features two ground-floor commercial spaces and four fully leased residential units, providing immediate income and long-term upside. The corner retail space is anchored by Chase Bank, while the inline space is leased to Northern Liberties Mailbox Store, ensuring strong credit tenancy. Residential units include two one-bedroom and two two-bedroom apartments, all currently leased at below-market rents, creating a compelling value-add scenario.
Positioned along the bustling North 2nd Street corridor, the property benefits from exceptional visibility and foot traffic in a neighborhood that has seen over 1,000 new residential units developed in recent years. Northern Liberties is a premier destination for dining, nightlife, and boutique retail, attracting a diverse and affluent demographic. With CMX-2.5 zoning, the property also offers future redevelopment potential. This is an ideal acquisition for investors seeking a stable, income-producing asset with significant growth potential in one of Philadelphia’s most desirable submarkets.
Positioned along the bustling North 2nd Street corridor, the property benefits from exceptional visibility and foot traffic in a neighborhood that has seen over 1,000 new residential units developed in recent years. Northern Liberties is a premier destination for dining, nightlife, and boutique retail, attracting a diverse and affluent demographic. With CMX-2.5 zoning, the property also offers future redevelopment potential. This is an ideal acquisition for investors seeking a stable, income-producing asset with significant growth potential in one of Philadelphia’s most desirable submarkets.
PROPERTY FACTS
| Price | £1,307,775 | Apartment Style | Low-Rise |
| Price Per Unit | £326,944 | Costar Property Class | C |
| Sale Type | Investment | Total Plot Size | 0.05 ac |
| Yield | 6.23% | Property Size | 5,976 sq ft |
| No. Units | 4 | No. Floors | 3 |
| Property Type | Build-to-Rent | Year Built | 1920 |
| Property Subtype | Apartment | Cross Streets | Fairmount Ave |
| Use Class | CMX-2.5 - Commercial Mixed-Use zoning | ||
| Price | £1,307,775 |
| Price Per Unit | £326,944 |
| Sale Type | Investment |
| Yield | 6.23% |
| No. Units | 4 |
| Property Type | Build-to-Rent |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Costar Property Class | C |
| Total Plot Size | 0.05 ac |
| Property Size | 5,976 sq ft |
| No. Floors | 3 |
| Year Built | 1920 |
| Cross Streets | Fairmount Ave |
| Use Class | CMX-2.5 - Commercial Mixed-Use zoning |
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Walk Score®
Excellent pedestrian access (93)
Transit Score®
Excellent Public Transport (82)
Bike Score®
Ideal For Cyclists (92)
PROPERTY TAXES
| Parcel Number | 871064150 | Improvements Assessment | £580,603 |
| Land Assessment | £145,151 | Total Assessment | £725,754 |
PROPERTY TAXES
Parcel Number
871064150
Land Assessment
£145,151
Improvements Assessment
£580,603
Total Assessment
£725,754
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632-634 N 2nd St
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