Property
Beds
18
Full Baths
None
1/2 Baths
None
Year Built
2022
Sq.Footage
9,561
Welcome to NOVA at 1424 Germantown Avenue, an architecturally distinctive 9 unita multifamily investment opportunity positioned along one of Philadelphia’s most dynamic residential corridors. Designed around the principles of Japandi living, a thoughtful blend of Japanese warmth, organic materials, and natural textures with Scandinavian minimalism and functionality, NOVA delivers a residential experience that feels intentional, modern, and distinctly different from conventional multifamily construction. Its loft-inspired red-brick exterior and oversized industrial-style windows pay homage to the architectural character of the surrounding Fishtown, Olde Kensington, and Northern Liberties neighborhoods. 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.
Features & Amenities
Interior
-
Other Interior Features
High Ceilings
-
Total Bedrooms
18
-
Bathrooms
N/A
-
Above Grade Finished Area
9561.0
-
Cooling YN
YES
-
Cooling
Central Air, Electric
-
Fireplace YN
NO
-
Heating YN
YES
-
Heating
Electric, Central, Forced Air
-
Pet friendly
N/A
Exterior
-
Garage
No
-
Construction Materials
Brick Veneer, Other, Brick
-
Parking
None
-
Pool
No
-
Waterfront YN
NO
-
View
City
Area & Lot
-
Lot Size(acres)
0.06
-
Lot Size(square feet)
2,732
-
Property Type
Residential Income
-
Property Sub Type
Multi Family
-
Architectural Style
Other
Price
-
Sales Price
$3,650,000
-
Tax Amount
$2,562
-
Financing Options
Cash, Conventional
-
Zoning
RM-1
-
Sq. Footage
9,561
-
Price/SqFt
$381
HOA
-
Association
No
School District
-
Elementary School
N/A
-
Middle School
N/A
-
High School
N/A
Property Features
-
New Construction
YES
-
Sewer
Public Sewer
-
Tax Lot
135
-
Water Source
Public
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Location
County
PHILADELPHIA
Elementary School
Middle School
High School
Listing Courtesy of Reda B Akbil, Compass Pennsylvania, LLC
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AGENT
Sharon Lelm
Call Sharon today to schedule a private showing.
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