9,561 SqFt
9,561 SqFt
Key Details
Property Type Multi-Family
Sub Type Other
Listing Status Coming Soon
Purchase Type For Sale
Square Footage 9,561 sqft
Price per Sqft $381
MLS Listing ID PAPH2649246
Style Other
Abv Grd Liv Area 9,561
Year Built 2022
Available Date 2026-09-03
Annual Tax Amount $2,562
Tax Year 2025
Lot Size 2,732 Sqft
Acres 0.06
Lot Dimensions 0.00 x 79.00
Property Sub-Type Other
Source BRIGHT
Property Description
This newer-construction, fully leased and stable asset offers investors immediate stabilized income together with approximately seven years remaining on Philadelphia's FULL tax abatement. The property currently generates $21,855 per month and $262,260 annually in gross rental income, creating a compelling combination of steady cash flow, prime location, long term appreciation, modern construction, and stable turnkey investment with minimal maintenance.
NOVA consists of 9 thoughtfully designed two-bedroom residences, including eight 2-bedroom, 2-bathroom layouts and one expansive 2-bedroom, 2.5-bathroom residence. Most residences offer approximately 886 square feet, while Unit 3 spans approximately 1,368 square feet across a multi-level layout. Units 8 and 9 feature penthouse configurations with private rooftop decks, providing residents with additional outdoor living space and skyline views. Two income-producing parking spaces further complement the property.
The residences were designed to deliver an elevated yet understated living experience. Bright interiors, oversized windows, natural-toned flooring, contemporary kitchens, stainless steel appliances, modern cabinetry, in-unit laundry, central HVAC, and carefully selected finishes create spaces that feel sophisticated without being overly trendy. The result is a timeless design language that supports strong tenant appeal and easy to lease units while differentiating NOVA from more traditional apartment offerings.
Whether acquiring a stabilized asset, completing a 1031 exchange, or expanding a Philadelphia multifamily portfolio, 1424 Germantown Avenue offers a rare opportunity to acquire a fully leased, design-forward nine-unit property with newer construction, approximately seven years of remaining tax abatement, $262,260 in annual gross rental income, two parking spaces, and a highly differentiated residential concept in one of Philadelphia's most active rental markets
Located along Germantown Avenue, NOVA places residents within convenient reach of the restaurants, cafés, nightlife, retail, and neighborhood amenities that have made the greater Fishtown, Olde Kensington, and Northern Liberties area one of Philadelphia's most sought-after destinations for renters. The property also provides convenient access to Center City, public transportation, and many of Philadelphia's major employment and entertainment districts.
Beyond the architecture, NOVA was conceived around the idea that thoughtful development can create impact beyond the building itself. A portion of the project's profits has supported the SEVA Foundation and its mission of helping provide sight-restoring cataract surgery to children and adults affected by preventable blindness, adding a meaningful social-impact component to the property's identity.
Location
State PA
County Philadelphia
Area 19122 (19122)
Zoning RM1
Interior
Hot Water Electric
Cooling Central A/C
Equipment Refrigerator, Dryer - Electric, Oven/Range - Electric, Stainless Steel Appliances, Microwave, Dishwasher
Fireplace N
Appliance Refrigerator, Dryer - Electric, Oven/Range - Electric, Stainless Steel Appliances, Microwave, Dishwasher
Heat Source Electric
Exterior
Water Access N
View City
Roof Type Fiberglass
Accessibility None
Garage N
Private Pool No
Building
Above Ground Finished SqFt 9561
Sewer Public Sewer
Water Public
Architectural Style Other
Additional Building Above Grade, Below Grade
Structure Type Dry Wall,9'+ Ceilings
New Construction Y
Schools
School District Philadelphia City
Others
Tax ID 881000068
Ownership Fee Simple
SqFt Source 9561
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Financing Cash,Conventional
Special Listing Condition Standard
Virtual Tour https://www.youtube.com/watch?v=nNmqlLLwQ0Y
Nearby Locations
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REALTOR® Lic# 2321621