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Multifamily

1312-1316 Grove Street

1312 Grove St, Philadelphia, PA 19146

Listing Price: $1,300,000

Cap Rate
6.48%
Number of Units
5
GRM
11.94
Price/Unit
$260,000
Price/Gross SF
$230.66
Gross SF
5,636

Investment Overview

Marcus & Millichap is pleased to present for sale 1312-1316 Grove Street - A five-unit, new construction apartment building in the Forgotten Bottom neighborhood of Philadelphia. The property was built in 2019, and has Philadelphia's full ten-year tax abatement until May 2029.

The property consists of two (2) two-bedroom units and three (3) three-bedroom units. Units feature high-end finishes with gourmet kitchens, stainless appliances, and washer/dryers in each unit. As development progresses in Forgotten Bottom, the neighborhood will continue to become even more desirable for residents.

With the assumable financing in-place, a buyer will be able to take advantage of the below-market interest rate for seven more years.

Additionally, this property can be purchased with the Harmony Street Apartments Offering - 19 units located just one block away.

Investment Highlights

  • 5 Units: 2019 Construction in the Forgotten Bottom Neighborhood of Philadelphia
  • Attractive Assumable Debt of 4.2% Maturing February 2030
  • 10 Year Tax Abatement: Ends May 2029
  • Excellent Unit Mix: All Two- and Three-Bedroom Units
  • High-End Finishes: Stainless Steel Appliances, Granite Counter Tops
  • Spacious Units Average 1,100+ SF
  • Limited Supply/Competition in the Submarket

Exclusively Listed By

Financing By

Multifamily

1312-1316 Grove Street

Listing Price: $1,300,000

Cap Rate
6.48%
Number of Units
5
GRM
11.94
Price/Unit
$260,000
Price/Gross SF
$230.66
Gross SF
5,636

Investment Highlights

  • 5 Units: 2019 Construction in the Forgotten Bottom Neighborhood of Philadelphia
  • Attractive Assumable Debt of 4.2% Maturing February 2030
  • 10 Year Tax Abatement: Ends May 2029
  • Excellent Unit Mix: All Two- and Three-Bedroom Units
  • High-End Finishes: Stainless Steel Appliances, Granite Counter Tops
  • Spacious Units Average 1,100+ SF
  • Limited Supply/Competition in the Submarket

Investment Overview

Marcus & Millichap is pleased to present for sale 1312-1316 Grove Street - A five-unit, new construction apartment building in the Forgotten Bottom neighborhood of Philadelphia. The property was built in 2019, and has Philadelphia's full ten-year tax abatement until May 2029. The property consists of two (2) two-bedroom units and three (3) three-bedroom units. Units feature high-end finishes with gourmet kitchens, stainless appliances, and washer/dryers in each unit. As development progresses in Forgotten Bottom, the neighborhood will continue to become even more desirable for residents. With the assumable financing in-place, a buyer will be able to take advantage of the below-market interest rate for seven more years. Additionally, this property can be purchased with the Harmony Street Apartments Offering - 19 units located just one block away.

Exclusively Listed By

Financing By

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