Assembled portfolio across Northeast & North Philadelphia — cash flowing on day one
Nine occupied rowhouses spanning two distinct sub-markets: the stable Northeast Philadelphia rowhouse corridor (Holmesburg, Lawncrest, Frankford) and the transit-dense North Philadelphia neighborhoods of Juniata Park and Feltonville — core Section 8 voucher utilization zones where PHA payment standards substantially exceed current in-place rents. The portfolio delivers immediate cash flow at a 9% blended cap rate, with a credible Section 8 conversion path that could revalue the portfolio by $500,000 or more.
All 9 units occupied generating $9,350/month — $112,200 annually — against $20,330 in estimated taxes. At $1,350,000 the portfolio delivers ~$91,870 NOI at a 9% blended cap rate with zero lease-up risk.
Six of nine properties sit in PHA Group 1 ZIP codes (19124) where the 3BR payment standard is $1,788/month. Current rents average ~$960/month. Fully stabilized S8 projects $17,064/month and portfolio value of $1.5M–$1.9M.
Nine doors in a single closing at $150,000/door average. Individual retail comps range $132K–$220K — this portfolio prices at or below replacement cost on a per-door basis.
Classic Philadelphia stone and brick rowhouses throughout. Several feature covered porches, finished basements, and established long-term tenants in place.
The portfolio spans two distinct but complementary market types.
Working-class owner-occupant neighborhoods with consistent demand and low vacancy. Median retail comps $160K–$240K. Solid buy-and-hold with retail exit optionality.
Dense, transit-rich corridors. Walk Scores ~77, Erie-Torresdale MFL access. High S8 voucher concentration — current rents well below PHA standards. Core conversion candidates.
Tight-knit, predominantly owner-occupied neighborhood with a median home value around $240K. Bordered by the Delaware River and I-95, with SEPTA Trenton Line access at Bridesburg Station. Strong blue-collar tenant base and low vacancy — one of the more stable single-asset holds in the portfolio.
PHA payment standards (Oct 2023) support $1,788–$2,136/month across this portfolio's bedroom mix. Current rents average $960/month — 46% below PHA ceilings. Fully stabilized S8 projects $17,064/month and $163,961 annual NOI, repositioning value to $1.5M–$1.9M.
Click any marker to view property details.
| # | Address | Neighborhood | Sub-Market | Beds / Baths | Current Rent |
|---|
Reach out directly for full underwriting packages, rent roll detail, and showing coordination.
Rarity Real Estate · KW Empower
1100 N Delaware Ave, Philadelphia PA 19125