4834 Penn St

Philadelphia, PASCOPE Commercial Real Estate Services, LLC ("SCOPE") is pleased to present the opportunity to acquire 4834 Penn Street, a 25-unit multifamily asset in Philadelphia. The property consists of two buildings on a single parcel: a six-unit structure originally built in 1940 and renovated in 2010, and a 19-unit building constructed in 2015. Together, the portfolio offers 23 one-bedroom, one-bathroom units and two two-bedroom, one-bathroom units. Average current in-place rents are approximately $878 for one-bedroom units and $890 for the two-bedroom units, with an overall rental income of $22,201 per month. With market rents supported at $975 for one-bedrooms and $1,125 for two-bedrooms, the asset provides immediate near-term upside through standard rent increases for about 12 percent upside in annual rental income. Both buildings have similar finish levels including laminate counter tops, white appliances, and cherry cabinets. On-site amenities include six surface parking spaces, including one handicap-accessible spot, and the newer building is fully wheelchair accessible with a ramped entrance. The 19-unit building utilizes wall-hung PTAC units for heating and cooling, while the six-unit building operates on electric baseboard heat. Each unit in the 19-unit property is equipped with its own electric hot water heater, while the six-unit building is serviced by electric hot water heaters located in the basement. All units feature electric cooking with full appliance packages, including refrigerator, range, microwave, and dishwasher. Laundry facilities are provided through coin-operated washers and dryers located in the basement of both buildings. Beyond the mark-to-market potential, new ownership has the opportunity to implement interior renovations that would push one-bedroom units to an average of $1,175 and two-bedroom units to $1,250. This strategy would increase gross monthly revenue from the current $22,201 to a pro forma of $29,586, representing a 33 percent uplift in rental income. The combination of below-market leases, stable occupancy, and a clear value-add plan makes this a compelling investment with both immediate and long-term upside. Ideally situated in a commuter-friendly section of Northeast Philadelphia, the property offers residents seamless access to major employment hubs throughout the city. Jefferson Frankford Hospital is located one block from the property. The location is within close proximity to Arrott Transportation Center, providing access to the Market-Frankford SEPTA line, as well as multiple bus routes including the K, 41, 59, 75, and 89. This connectivity, combined with off-street parking and a walkable setting, ensures the asset will remain attractive to both working professionals and long-term tenants seeking quality housing with reliable transportation options.