Philadelphia, PA
Property Type: MultifamilySize: 9 Units
Price: $2,100,000
CAP: 6.68%
Highlights:
- Nine Unit Apartment Building in the Desirable East Falls Neighborhood
- 2017 Conversion from a Church
- Attractive Assumable Debt with 3.87% Rate - Maturing May 2030
- Walking Distance to Train
- Unique Floor Plans with High Ceilings, Stainless Steel Appliances, and Granite Counter Tops
Description:
Marcus & Millichap is pleased to present for sale 3460 Midvale - A 9-unit apartment building in the East Falls neighborhood of Philadelphia. The property was converted in 2017, and has Philadelphia’s full ten-year tax abatement until December of 2027.
The property consists of five (5) one-bedroom units, three (3) two-bedroom units, and one (1) three-bedroom unit. Units feature high-end finishes with gourmet kitchens, stainless appliances, washer/dryers, and secured keyless entry. The property is poised to deliver strong returns, given the unique units and highly desirable location. With the assumable financing in place, a buyer will be able to take advantage of the sub-4% interest rate for six more years.
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