Philadelphia, PA

Property Type: Multifamily
Size: 6 Units
Price: $2,000,000
CAP: 5.53%

Highlights:

  • 6 Units - Brand New Construction, Located in Southwest Center City Philadelphia
  • Large Units with High-End Finishes - Gourmet Kitchen, In-Unit Washer/Dryer, and Private Roof Deck
  • Neighborhood Experiencing Significant Amount of New Development
  • High Quality Construction & Minimal Operating Expenses
  • Delivered Free & Clear of Debt

Description:

The Opportunity
Marcus & Millichap is pleased to present for sale the 20th Street Triplexes – A 6-Unit new construction apartment building located in The Pointe Breeze section of Philadelphia. Built in 2022, The subject property is ideally located on South 20th St, just a half block away off Washington Avenue and in the core of the ongoing revitalization. The Property offers the unique opportunity to take advantage of Washington Avenue’s transition from an industrial corridor into a residential-commercial enclave.

Large Units with High-End Finishes
The 20th Street Triplexes offer spacious units that average 1,183 square feet – much larger than other luxury buildings in the submarket. The spacious units feature a gourmet kitchen with Stainless Steel appliance package, carrara quartz countertop, breakfast bar, in unit washer/dryer, and secured keyless building entry.

Gentrifying Location
The Pointe Breeze section of Philadelphia neighbors Graduate Hospital to the North and Bella Vista to the East. The neighborhood has seen a significant amount of new development and increased property values due to its centralized location. Center City, University City, and the Walt Whitman Bridge are all within a 10-minute drive. Tenants have easy access to a Fresh Grocer anchored shopping center, and shopping and dining all along Washington Avenue.

High Quality Construction & Minimal Operating Expenses
The 20th Street Triplexes boasts high quality construction and unique two- & three-bedroom floorplans. These units will command a tremendous amount of interest to a tenant base looking for spacious units with outdoor space, in a convenient location. A new owner will benefit from minimal operating expenses, due to the fact that the residents pay for electric, gas, and are billed back monthly for Water.

Free & Clear of Debt
The 20th Street Triplexes will be delivered free and clear of debt, allowing an investor to take advantage of strong financing options for multifamily properties.

CLICK HERE TO VIEW THE OFFERING MEMORANDUM


Click here to schedule a showing of this property



Location:


Go to Top