Philadelphia, PA
Property Type: MultifamilySize: 19 Units
Price: $4,900,000
CAP: 6.81%
Highlights:
- New Construction Property in the Forgotten Bottom Neighborhood of Philadelphia
- 2023 Construction with Full 10-Year Tax Abatement
- Delivered Free-and-Clear of Debt
- Large Two- and Three-Bedroom Units with High-End Finishes
- Strong Location Near Pennovation Center and I-76, With Easy Access to University City and Center City
- Can be Purchased Together with 1312-1316 Grove Street: 5 Units 2019 Construction, Located on Neighboring Block
Description:
Marcus & Millichap is pleased to present for sale the Harmony Street Apartments. The Harmony Street Apartments, located at 1328, 1336, and 1342 S Harmony Street, consist of nineteen (19) units in the Forgotten Bottom submarket of Philadelphia. The property was built in 2023, and has Philadelphia’s full ten-year tax abatement that will not commence until January 2024 and ends January 2034.
The properties consist of nine (9) two-bedroom units and ten (10) three-bedroom units. Units feature high-end finishes with gourmet kitchens, stainless appliances, and washer/dryers in every unit. As development progresses in Forgotten Bottom, the neighborhood will continue to become even more desirable for residents. Additionally, this property can also be purchased with 1312-1316 Grove Street - 5 units located just one block away.
Full Summary:
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