Multifamily
1312-1316 Grove Street
1312 Grove St, Philadelphia, PA 19146
Listing Price: $1,300,000
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.
1312-1316 Grove Street
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
Listing Price: $1,300,000
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.
