Investment Overview

Marcus & Millichap is pleased to present for sale Tioga Park Apartments, a 41-unit multifamily property, located at 2100 W Tioga Street in the Nicetown-Tioga neighborhood of North Philadelphia. Positioned just west of the Lewis Katz School of Medicine at Temple University, Tioga Park Apartments offers a terrific central location with tremendous access to public transit and interstate, as well as area employers and local retail. Tioga Park Apartments is comprised of nine studio apartments, thirty-one one-bedroom apartments, and one three-bedroom apartment that is currently used as an administrative office. The existing rent roll encompasses a mix of market-rate and voucher tenants, with 15 of the 41 tenants in the PHA voucher program. Since the seller’s acquisition of the property in 2016, Tioga Park Apartments has benefited from substantial capital improvements aimed at enhancing its appeal, ensuring long-term value and tenant retention. Recent upgrades include a complete rewiring of the electric, water main, domestic hot water, roof, windows, and light in-unit renovations. These investments not only reinforce the property's standing in the North Philadelphia rental market but also position it as a robust opportunity for investors seeking stable income potential combined with additional upside. Temple University, being the submarket’s major economic driver, has been on an upswing in recent years. Coming off a record-setting fall in applications and admissions, Temple University is poised to continue its growth as it embarks on various capital projects on both its undergraduate and medical college campuses. The University’s growth has attracted local, regional, and national investors’ attention, making the surrounding area a target for continued investment.