3206 W Dauphin St, Philadelphia, PA 19132

Property Description

FULLY LEASED AND FULLY RENOVATED. Welcome to 3206 W Dauphin St, a 6-unit multifamily with strong cash flow and a cap rate that's hard to find in today's market. Offered at $799,900. The building is fully leased, with $7,300 in monthly rent ($87,600 gross annual income) and about $63,000 NOI. That works out to a cap rate near 8% and a gross rent multiplier around 9.1x. The current leases also include a 4% rent increase next year, bringing gross income to about $91,100 and NOI to about $66,500. That's a projected cap rate of roughly 8.3% on the purchase price. The unit mix includes four (4) 1BR/1BA, one (1) 2BR/1BA, and one (1) 3BR/1BA units. All are brand new construction with designer finishes throughout, so this is a turnkey asset that tenants are eager to call home. Location is a standout. The property sits on a quiet block surrounded by green, park-like open space, giving it a peaceful residential feel while keeping tenants connected to the city. Major SEPTA bus routes are just steps from the front door, making commutes effortless. Ample on-street parking is consistently available day and night, which helps tenant satisfaction and retention. The building was extremely quick and easy to lease. The 1-bedroom units got over 40 inquiries within the first 24 hours of being listed for rent. Rental rates are trending upward and demand shows no signs of slowing. Pro Forma available in listing documents. Whether you're a seasoned investor expanding your portfolio or entering the Philadelphia multifamily market, 3206 W Dauphin delivers the trifecta: new construction quality with exceptional design, strong income, and a location that keeps units leased. Don't miss this opportunity! FULL 10 YEAR TAX ABATEMENT. Agent has financial interest.