2412 Innovator Way | Philadelphia, PA 19146
4-Unit Luxury Multifamily | New Construction | 7% Cap Rate | 4-Car Garage | Fully Stabilized
Exceptional opportunity to acquire a newly constructed 4-unit luxury multifamily property in one of Philadelphia’s fastest-growing submarkets with a 10 year tax abatement. Completed in 2023, this condo building features four large 3-bedroom residences with premium finishes, private garage parking, and modern design. Ideal for professional tenants seeking high-end living just minutes from Center City and University City.
Each unit offers spacious layouts, modern kitchens, and contemporary finishes, with select units offering bi-level floorplans or private roof decks. With all units leased and stabilized, this turnkey investment provides immediate cash flow, minimal maintenance, and strong appreciation potential within the 19146 corridor.
Total Rent Roll: $180,600 per year (includes parking and utility reimbursements)
Annual Expenses: approximately $19,000
Net Operating Income: approximately $161,600
Asking Price: $2,300,000
Cap Rate: approximately 7.0%
Delivered: 2023
Parking: 4-car garage (tenants pay $300 per month per space)
Unit 1 – 2,100 SF – 3 bed / 3.5 bath – bi-level first floor and basement – $3,350/month
Unit 2 – 1,530 SF – 3 bed / 2 bath – $3,500/month
Unit 3 – 1,585 SF – 3 bed / 2 bath – $3,300/month
Unit 4 – 1,585 SF – 3 bed / 2 bath with roof deck – $3,400/month
Parking income – $1,200/month total
Water reimbursement – $300/month total
Total monthly rent – $15,050/month
Annual Expenses:
Taxes – $4,479 per year
Insurance – $4,000 per year
Condo fees – $3,360 per year
Total expenses – approximately $19,000 per year
Highlights include four large 3-bedroom units averaging over 1,700 square feet, four garage parking spaces, premium kitchens, modern baths, bi-level and roof deck layouts, and top-quality new construction delivered in 2023. The property offers proximity to Rittenhouse Square, University City, major transit routes, and employment hubs.
Offered at $2,300,000. Fully stabilized, turnkey 7% cap rate investment in a prime Philadelphia location. Contact for rent roll, lease abstracts, and full financials.
Listing Details
$2,300,000
Active
Multi-Family
2870623
10/31/2025
8 Day(s) Ago
Property Details
2401 Washington Ave
Philadelphia
PA
19146
Philadelphia
6,800
0
Location Details
No
No
Broker Details
Triforce Commercial Real Estate LLC
Jason Horowitz
