$3,650,000

Property Description

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, cafes, 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.

Property Facts & Features

Property Type

Multi Family

Status

Active

Listed

Aug 30, 2026

Price per Sq Ft

$382/sqft

ZIP Code

19122

Heating

90% Forced Air, Central

Cooling

Central A/C

Construction

Brick, Brick Front

Property Tax (2026)

$2,562/yr

Assessed Value

$1,830,700

Neighborhood

Lower North

County

Philadelphia

School District

The School District of Philadelphia

Estimated Value

Automated estimate. Not an appraisal.

Features & Amenities

Location

Lat 39.97305 · Lng -75.14184