Multifamily

2035 N College Avenue

2035 N College Ave, Philadelphia, PA 19121

Listing Price: $2,250,000

Cap Rate
6.05%
Number of Units
9
GRM
12.28
Occupancy
95.00%
Price/Unit
$250,000
Price/Gross SF
$251.26
Gross SF
8,955

Investment Overview

Marcus and Millichap is pleased to offer for sale 9 newly constructed luxury apartment units located in the Brewerytown neighborhood of Philadelphia. The Offering is comprised of three contiguous triplexes built in 2018 and each building contains spacious layouts and high end appliances and finishes.

Brewerytown is immediately north of Fairmount and Center City and offers a less costly living option. This area has seen significant development of new townhouses and multifamily as well as retail to support the influx of these new residents.

The Offering is priced at $2,250,000 with a going in capitalization rate of 6.05%.

Investment Highlights

  • CURRENT RENTS ARE BELOW MARKET PROVIDING FUTURE UPSIDE
  • EXCELLENT PAYMENT HISTORY THROUGH RECENT ECONOMIC SHUTDOWN
  • CONVENIENT TO REVITALIZED GIRARD AVENUE RETAIL & PUBLIC TRANSPORTATION
  • EIGHT YEARS REMAINING ON TEN YEAR TAX ABATEMENT
  • SUPERB LOCATION - PROXIMATE TO CENTER CITY & FAIRMOUNT PARK

Exclusively Listed By

Listing Price: $2,250,000

Cap Rate
6.05%
Number of Units
9
GRM
12.28
Occupancy
95.00%
Price/Unit
$250,000
Price/Gross SF
$251.26
Gross SF
8,955

Investment Highlights

  • CURRENT RENTS ARE BELOW MARKET PROVIDING FUTURE UPSIDE
  • EXCELLENT PAYMENT HISTORY THROUGH RECENT ECONOMIC SHUTDOWN
  • CONVENIENT TO REVITALIZED GIRARD AVENUE RETAIL & PUBLIC TRANSPORTATION
  • EIGHT YEARS REMAINING ON TEN YEAR TAX ABATEMENT
  • SUPERB LOCATION - PROXIMATE TO CENTER CITY & FAIRMOUNT PARK

Investment Overview

Marcus and Millichap is pleased to offer for sale 9 newly constructed luxury apartment units located in the Brewerytown neighborhood of Philadelphia. The Offering is comprised of three contiguous triplexes built in 2018 and each building contains spacious layouts and high end appliances and finishes.

Brewerytown is immediately north of Fairmount and Center City and offers a less costly living option. This area has seen significant development of new townhouses and multifamily as well as retail to support the influx of these new residents.

The Offering is priced at $2,250,000 with a going in capitalization rate of 6.05%.

Exclusively Listed By

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