Multifamily

718-720 & 724 South 3rd Street

718 S 3rd St, Philadelphia, PA 19147

Listing Price: $1,350,000

Cap Rate
4.56%
Number of Units
7
GRM
12.52
Occupancy
95.0%
Price/Unit
$192,857
Price/Gross SF
$247.71
Gross SF
5,450

Investment Overview

Marcus & Millichap is pleased to present for sale 718-720 & 724 South 3rd Street - Seven units in two buildings in the desirable Queen Village neighborhood of Philadelphia.

The buildings are located along South 3rd Street, with one of the buildings being located at the end of the block. Three units feature private entrances. Units have undergone renovations at different times, with some featuring updated kitchens with newer cabinetry, countertops, and appliances. One of the units features direct access to an outdoor patio area. There are in-unit washer/dryer in select units, as well as common area laundry.

Queen Village is a residential neighborhood that lies along the eastern edge of the city, immediately south of Center City. There has been extensive redevelopment, rehabilitation, and new construction throughout the neighborhood in the last couple of decades. The area is served by the well-organized Queen Village Neighborhood Association.

The opportunity presents a significant upside in rents upon turnover, as many units are significantly below-market due to long-term tenancy. An investor can take advantage of incredible financing terms in the marketplace to enhance their returns on this asset in a prime Center City location.

Investment Highlights

  • 7 Units in Two Buildings in Desirable Queen Village Neighborhood
  • Significant Upside in Rents
  • Free and Clear of Debt - Excellent Financing Available
  • Three Units with Private Entrances
  • In-Unit Washer/Dryer in Select Units & Common Area Laundry

Exclusively Listed By

  • Ridge MacLaren

    Senior Vice President Investments

    (215) 531-7019

    Email Ridge

    License(s): PA: RB-063070-L, PA: RM042723B, DE: RB-0002461, NJ: 673619

    Philadelphia

  • Clarke Talone

    First Vice President Investments

    (215) 531-7021

    Email Clarke

    License(s): PA: RS299113, DE: RS-0019808, NJ: 0787408

    Philadelphia

  • Andrew Townsend

    First Vice President Investments

    (215) 531-7020

    Email Andrew

    License(s): PA: RS304074, DE: RS-0019885, NJ: 680787

    Philadelphia

Multifamily

718-720 & 724 South 3rd Street

Listing Price: $1,350,000

Cap Rate
4.56%
Number of Units
7
GRM
12.52
Occupancy
95.0%
Price/Unit
$192,857
Price/Gross SF
$247.71
Gross SF
5,450

Investment Highlights

  • 7 Units in Two Buildings in Desirable Queen Village Neighborhood
  • Significant Upside in Rents
  • Free and Clear of Debt - Excellent Financing Available
  • Three Units with Private Entrances
  • In-Unit Washer/Dryer in Select Units & Common Area Laundry

Investment Overview

Marcus & Millichap is pleased to present for sale 718-720 & 724 South 3rd Street - Seven units in two buildings in the desirable Queen Village neighborhood of Philadelphia.

The buildings are located along South 3rd Street, with one of the buildings being located at the end of the block. Three units feature private entrances. Units have undergone renovations at different times, with some featuring updated kitchens with newer cabinetry, countertops, and appliances. One of the units features direct access to an outdoor patio area. There are in-unit washer/dryer in select units, as well as common area laundry.

Queen Village is a residential neighborhood that lies along the eastern edge of the city, immediately south of Center City. There has been extensive redevelopment, rehabilitation, and new construction throughout the neighborhood in the last couple of decades. The area is served by the well-organized Queen Village Neighborhood Association.

The opportunity presents a significant upside in rents upon turnover, as many units are significantly below-market due to long-term tenancy. An investor can take advantage of incredible financing terms in the marketplace to enhance their returns on this asset in a prime Center City location.

Exclusively Listed By

  • Ridge MacLaren

    Senior Vice President Investments

    (215) 531-7019

    Email Ridge

    License(s): PA: RB-063070-L, PA: RM042723B, DE: RB-0002461, NJ: 673619

    Philadelphia

  • Clarke Talone

    First Vice President Investments

    (215) 531-7021

    Email Clarke

    License(s): PA: RS299113, DE: RS-0019808, NJ: 0787408

    Philadelphia

  • Andrew Townsend

    First Vice President Investments

    (215) 531-7020

    Email Andrew

    License(s): PA: RS304074, DE: RS-0019885, NJ: 680787

    Philadelphia

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