Investment Overview

Marcus & Millichap is pleased to propose for sale a true value add mixed use property in the Hunting Park section of Philadelphia. Located at 4153 North Broad Street (the "Property"), the Property features four apartments above an office space with other commercial potential. Qualified investors are able to acquire a centrally located asset on a high visibility corner that sees nearly 50,000 cars daily, is surrounded by national retailers, and has tremendous access to public transportation with the Hunting Park Station for the Broad Street Septa Line directly across the street. The second and third floor each feature one studio and one 1-bedroom apartment and, as of today, three of the four apartments are rented. The office space is currently owner occupied and will be vacated prior to sale. However, given the current zoning of CMX-2, the Property must maintain a first level commercial component. Since ownership was often onsite, they maintained the Property meticulously to get ahead of any future maintenance issues such as installing a new roof in March of 2018. The Hunting Park is a section of North Philadelphia that has seen great improvement over the last decade, most notably through the Hunting Park Revitalization Project. Hunting Park, which is located one block west of the Property, underwent a massive renovation centered around providing newer, cleaner amenities for the people and children of the neighborhood. Featuring six new tennis and handball courts, an orchard, a weekly farmers market, and two new playgrounds, area residents are able to enjoy improved outdoor space providing a true suburban feel in their urban neighborhood. In addition, the city invested heavily in additional lighting around the park's loop road to improve safety in the park.