150 W WASHINGTON LN new to site Save Request In-Person Tour Request Virtual Tour
Philadelphia,PA 19144
Key Details
Property Type Commercial
Sub Type Five Or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 10,840 sqft
Price per Sqft $197
Subdivision Germantown
MLS Listing ID PAPH2522108
Year Built 1900
Annual Tax Amount $6,912
Tax Year 2024
Lot Size 0.589 Acres
Acres 0.59
Lot Dimensions 84.00 x 156.00
Property Sub-Type Five Or More Units
Source BRIGHT
Property Description
144 & 150 Washington Lane, a fully leased 13-unit multifamily investment located in the highly desirable Mount Airy section of Northwest Philadelphia. This ±10,840 SF property consists of two contiguous, separately metered buildings featuring a diversified unit mix of 1-, 2-, and
3-bedroom layouts—ideal for tenant retention and income stability. Situated on an oversized ±25,513 SF lot, the asset delivers strong cash flow from day one with $18,282/month in scheduled rents and minimal deferred maintenance. The in-place CAP rate is 6.94%, with a projected Year 1 return of 8.34%. With current ownership achieving high occupancy and low turnover, this is a turnkey opportunity
for investors seeking passive income in a strong rental corridor.
The property benefits from proximity to the regional rail line, Germantown Avenue retail and restaurants, and other lifestyle amenities. With its strategic location, solid rent roll, and operational efficiency, 144 & 150 Washington Lane represents a high-quality, yield-focused multifamily investment in one of Northwest Philadelphia's most stable rental markets.
Location
State PA
County Philadelphia
Area 19144 (19144)
Zoning RSA2
Interior
Hot Water Natural Gas
Heating Forced Air
Cooling None
Flooring Wood,Vinyl
Heat Source Natural Gas
Exterior
Garage Spaces 12.0
Water Access N
Roof Type Pitched
Accessibility None
Total Parking Spaces 12
Garage N
Building
Foundation Stone
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Philadelphia City
Others
Tax ID 881212200
Ownership Fee Simple
SqFt Source Estimated
Acceptable Financing Cash
Listing Terms Cash
Financing Cash
Special Listing Condition Standard