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2020-22 N 22nd St
For Sale $3,000,000
$3,000,000
- Units
- Unknown Sq Ft
- 2,775 Sq Ft
- Unknown Cap Rate
Description
PRIME INVESTMENT OPPORTUNITY – TURN-KEY 2-YEAR-OLD NEW CONSTRUCTION 15-UNIT MULTIFAMILY BUILDING
RARE OPPORTUNITY TO ACQUIRE A MODERN, HIGH-QUALITY NEW CONSTRUCTION MULTIFAMILY ASSET DELIVERING STRONG IMMEDIATE CASH FLOW AND LONG-TERM UPSIDE. THIS 2-YEAR-OLD, 15-UNIT BUILDING IS APPROXIMATELY 90% LEASED WITH 13 UNITS CURRENTLY RENTED, PROVIDING STABLE AND CONSISTENT INCOME FROM DAY ONE.
THE PROPERTY BENEFITS FROM A 10-YEAR TAX ABATEMENT WITH APPROXIMATELY $2,750 IN ANNUAL REAL ESTATE TAXES, SIGNIFICANTLY REDUCING OPERATING EXPENSES AND ENHANCING NET CASH FLOW. THE BUILDING FEATURES A DESIRABLE UNIT MIX OF STUDIOS, ONE-BEDROOM, AND TWO-BEDROOM APARTMENTS WITH HIGH-END FINISHES THROUGHOUT, INCLUDING QUARTZ COUNTERTOPS, STAINLESS STEEL APPLIANCES, CUSTOM TILE BATHS, AND IN-UNIT LAUNDRY.
ADDITIONAL FEATURES INCLUDE ENERGY-EFFICIENT SYSTEMS, FULL SPRINKLER SYSTEM, SEPARATE UTILITIES, SECURE ENTRY, AND CAMERA SYSTEMS, RESULTING IN LOW MAINTENANCE AND MINIMAL NEAR-TERM CAPITAL EXPENDITURES. STRONG RENTAL DEMAND SUPPORTS TOP-OF-MARKET RENTS WITH POTENTIAL FOR FUTURE RENT GROWTH AND APPRECIATION.
LOCATED IN A RAPIDLY DEVELOPING, HIGH-DEMAND RENTAL AREA SURROUNDED BY NEW CONSTRUCTION, UNIVERSITIES, MAJOR EMPLOYERS, AND PUBLIC TRANSPORTATION, THIS ASSET OFFERS BOTH IMMEDIATE INCOME AND LONG-TERM VALUE CREATION. IDEAL FOR 1031 EXCHANGE BUYERS, PORTFOLIO EXPANSION, OR INVESTORS SEEKING A STABILIZED, TURN-KEY MULTIFAMILY OPPORTUNITY.
Amenities
Garage
Pool
Garden
Security System
Internet
Telephone
Heating
Fireplace
Balcony & Patio
TV / Cable
Laundry
Hardwood Floors
Spa
Air Conditioning
Solar Power
Floor Plan
Great Views
Natural Light
Quiet
Water View
Elevator
Guest Unit(s)
Furnished
220 Volt
Property Details
| List Price | $3,000,000 |
| Property Type | Multi-Family |
| Usable Sqft | Unknown |
| Number of Stories | 0 stories |
| Parking Spots | 0 spots |
| Year Built | 2023 |
| Last Sold | Unknown |
| Sold Price | Unknown |
| APN # | 322095600 |
| MLS # | PAPH2569690 |
| Property ID | 293857262 |
| Lot Sqft | 2,775 |
| Zoning | RM1 |
| Days on Market | 42 |
| Original List Price | Unknown |
| Date Updated | January 05, 2026 |
| Date Created | January 04, 2026 |
Financials not available online. Please inquire with your agent for more details.
Listing Provided By
Gazi Ataseven an agent of . Lic #RM426020
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Data last updated: February 15, 2026.
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Robert Crawford
REAL ESTATE AGENT