2438 N MASCHER ST

Calling all investors! Situated on a unique 18 foot wide lot, this thoughtfully designed new construction duplex presents a rare opportunity to acquire a high performing asset in one of Philadelphia’s fastest growing sub-markets. The building will be part of the last wave of assets to deliver that offers the full 10-year tax abatement. Additionally, the location of this asset qualifies the building for highly sought after QOZ benefits. One year builders warranty included. Each unit offers a functional floorpan, 3 equally sized bedrooms, 3 full bathrooms, a large kitchen island, upgraded stainless steel appliance packages, washer/dryer, and private outdoor space including a rear patio, second level deck, and street to street roofdeck. A projected 6.94% cap rate was determined based on conservative rent projections and closed market comps. Located just a few blocks from the Eastern half of the Temple University off-campus housing community and only a short 5-minute walk to Fishtown hotspots like Rowhome Coffee, Philly Brewing Co, and Pizza Brain - this duplex will appeal to student renters and young professionals alike reducing vacancy risk for the next investor. This multi-family build also creates a nice opportunity for an owner occupant investor that wishes to live in one unit, rent out the other while taking advantage of primary residency financing. *Note: Many assets to be delivered in 2023 and later will only qualify for the new “step down” abatement, which reduces its’ benefit each year by 10%. This property will have taxes abated for the full 10 year term. 2438 N Mascher can also be included as part of a package sale with 2453 N 6th and/or 2513 N 7th. Ask your agent to review all digital material and documentation prior to touring. Projected annual income is $53,040. Listing agent underwriting attached for reference purposes only.