Trophy Commercial Real Estate, LLC (“Trophy”) is pleased to present 3607 Spring Garden Street, a six-unit multifamily investment opportunity located in Philadelphia. Offered at $1,500,000, the property was built in 2018 and totals approximately 4,950 rentable square feet, with an average unit size of approximately 825 square feet.

The property features a highly differentiated unit mix consisting of five three-bedroom / three-bathroom residences and one two-bedroom / two-bathroom residence. Current rents range from $1,500 to $2,010 per month, generating $11,250 in monthly scheduled rent and $135,000 in annual Gross Scheduled Rent.

The asset generates $107,197 in current Net Operating Income, representing a 7.15% going-in capitalization rate at the asking price. Year 1 underwriting projects Gross Scheduled Rent of $141,750 and NOI of $113,288, resulting in a 7.55% Year 1 capitalization rate.

At approximately $250,000 per unit and $303.03 per rentable square foot, 3607 Spring Garden Street provides investors with immediate cash flow, a modern residential product, and continued income growth potential in a well-located Philadelphia multifamily asset.

Investment Highlights:

• Strong In-Place Yield | Current NOI of $107,197 represents a 7.15% going-in capitalization rate, providing investors with attractive cash flow from acquisition.

• Highly Desirable Unit Mix | The property consists of five three-bedroom / three-bathroom residences and one two-bedroom / two-bathroom residence, providing larger layouts with bathroom configurations well suited for roommate-style occupancy.

• Newer Construction | Built in 2018, the property provides investors with a modern multifamily product and a newer physical plant relative to much of Philadelphia’s existing rental inventory.

• Efficient Operating Profile | Current operating expenses total approximately $21,054, representing 16.4% of Effective Gross Income, supporting strong conversion of rental revenue to NOI.

• Year 1 Income Growth | Year 1 underwriting projects NOI increasing to $113,288, resulting in a 7.55% Year 1 capitalization rate and a 6.27% Year 1 cash-on-cash return at the asking price.

• Strong Residential Income | The six units currently generate $11,250 per month and $135,000 annually in Gross Scheduled Rent, with an average monthly rent of $1,875 per unit.

Price: $1,500,000
Price/Unit: $250,000
Price Per SF: $303.03
Current Cap Rate: 7.15%