Trophy Commercial Real Estate is pleased to present 230 & 234 East Sharpnack Street, a 37-unit multifamily investment opportunity located in Philadelphia’s Mount Airy neighborhood. The offering consists of two adjacent apartment buildings totaling 22,705 rentable square feet and features a consistent one-bedroom unit mix, creating operational efficiency and scalable management.

The asset presents a compelling value-add opportunity with stable in-place income and a clearly executable business plan centered around rent normalization and operational optimization. Current average rents remain meaningfully below market, providing investors with a direct path to NOI growth through lease turnover and continued interior renovations. Ownership has already completed several major capital improvements, including roof replacement, parking lot resurfacing, and building entry upgrades, significantly reducing near-term capital expenditure exposure.

In addition to rental upside, the property offers ancillary income potential through the monetization of its 25 on-site parking spaces. The combination of immediate cash flow, operational scale, and embedded revenue growth creates an attractive risk-adjusted investment profile.

Investment Highlights

• 37-Unit Multifamily Investment Opportunity

• 22,705 Rentable Square Feet Across Two Adjacent Buildings

• Stable In-Place Cash Flow with Value-Add Upside

• Significant Mark-to-Market Opportunity Through Rent Normalization

• Additional Income Potential via 25 On-Site Parking Spaces

• Recent Capital Improvements Completed, Reducing Near-Term CapEx

• Efficient One-Bedroom Unit Mix with Scalable Operations

• Located in Philadelphia’s Established Mount Airy Submarket

Located in the heart of Mount Airy, the property benefits from strong neighborhood fundamentals, consistent renter demand, and convenient access to major commuter routes, SEPTA transit, retail corridors, and regional employment hubs. Mount Airy continues to attract renters seeking affordability, accessibility, and neighborhood stability within the Philadelphia market.

Price: $3,300,000
Price/Unit: $89,189
Price/SF: $145.34
Cap Rate (In-Place): 6.31%