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Key Details
Sold Price $3,270,000
Property Type Commercial
Sub Type Other
Listing Status Sold
Purchase Type For Sale
Square Footage 26,723 sqft
Price per Sqft $122
Subdivision Germantown
MLS Listing ID PAPH2049762
Sold Date 04/16/22
Originating Board BRIGHT
Year Built 1920
Annual Tax Amount $1,296
Tax Year 2021
Lot Size 900 Sqft
Acres 0.02
Lot Dimensions 15.00 x 60.00
Property Description
22 home portfolio for sale in the surging Germantown section of Philadelphia, Pennsylvania. Turnkey investment sale offered at an extremely attractive 7.5% cap rate with major rental upside (9.5% pro forma cap rate on market rate rents) in a fast-growing desirable location. Assets have been well maintained and historically occupied throughout Ownership's tenure. This is a rare chance to acquire a cash flowing real estate portfolio in an emerging submarket with appreciation forecast for double digit annual returns. These properties are offered well below replacement cost. The area is booming with new construction apartments, homes and retail. Easy access to downtown Philly, University City, and Greater Philadelphia suburban employment centers. Enquire within for financials.
Location
State PA
County Philadelphia
Area 19119 (19119)
Zoning RSA5
Interior
Hot Water Natural Gas
Heating Central
Cooling Central A/C
Heat Source Natural Gas
Exterior
Water Access N
Accessibility None
Garage N
Building
Foundation Other
Sewer Public Sewer
Water Public
New Construction N
Schools
School District The School District Of Philadelphia
Others
Tax ID 222017300
Ownership Fee Simple
SqFt Source Estimated
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Financing Cash,Conventional
Special Listing Condition Standard
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Bought with Dory Dean Mendenhall • Homestarr Realty
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