Property Description

Philly CRE Advisors proudly presents 1602 S Broad Street, a recently rehabbed (2022) mixed-use/multifamily property, exceptionally well-positioned along the Broad Street corridor in South Philadelphia's Newbold neighborhood. Located directly adjacent to an entrance to the Broad Street Line, the property benefits from exceptional pedestrian traffic, outstanding accessibility, and unmatched convenience for both residential tenants and commercial users. This transit-oriented location significantly enhances leasing demand by providing direct access to Center City, NRG Station, Temple University, and the city's major employment hubs, making it especially attractive to commuters, healthcare professionals, and business owners alike. The property features luxury residential finishes, in-unit washers and dryers, central air, and updated mechanical systems, offering modern living with minimal near-term capital expenditures. The property currently generates immediate cash flow with Unit 2, a two-bedroom, one-bathroom residence leased at $1,936 per month, while Unit 3, a two-bedroom, two-bathroom residence, is leased through August at $2,400 per month, providing near-term stability with the opportunity to adjust rents to market upon renewal or re-leasing. The property's premier location immediately adjacent to the Broad Street Line and the continued strength of the South Philadelphia rental market support consistent tenant demand and strong long-term occupancy. The ground-floor commercial space benefits from outstanding frontage and visibility along one of Philadelphia's busiest thoroughfares, making it well suited for a wide variety of professional, medical, retail, or service-oriented uses. The property's location is just minutes from Jefferson Methodist Hospital, the South Philadelphia Sports Complex, the Navy Yard, Passyunk Avenue's vibrant dining and retail scene, and Center City. With excellent transit connectivity, strong daily traffic counts, and a highly desirable location in one of South Philadelphia's most active commercial corridors, 1602 S Broad Street offers investors a compelling opportunity to acquire a versatile, income-producing asset with immediate cash flow and long-term appreciation potential.

Property Features

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