1507 Fairmount Ave - Apartments FOR SALE


Philadelphia, PA 19130- Fairmount-Art Museum
$1,100,000 USD
267-546-1718
1507 Fairmount Ave, Philadelphia, PA for Sale
$1,100,000 USD
Apartments - FOR SALE
1/9
null | 5.09% Cap Rate

1507 Fairmount Ave
Philadelphia, PA 19130
Fairmount-Art Museum


OVERVIEW

MPN Realty, Inc. is pleased to present the exclusive sale of 1507 Fairmount Ave., a 5-unit apartment building in the heart of Fairmount. The property was fully renovated in 2011, featuring new kitchens with stainless steel appliances, granite countertops, and new cabinets; tile-surround baths; new flooring throughout; and all new systems. The unit mix consists of (2) 2 bed/ 1 bath units and (3) 1 bed/ 1 bath units, all of which are self-contained. The property presents a turn-key investment opportunity with a value-add play as there is room to increase the rents. Located in the Fairmount section of Philadelphia, the site is in a very desirable area with easy access to Center City, the Art Museum, I-676, and public transportation via the Broad St line and many bus routes. Over the past couple of years Fairmount has experienced a tremendous amount of development, with new apartments and new retailers coming to the bustling commercial corridors of N. Broad St., Spring Garden St., and Fairmount Ave.

FOR SALE DETAILS

PRICE

$1,100,000 USD

PRICE/SF

$385 USD /SF

# OF UNITS

5

PRICE/UNIT

$220,000

CAP RATE

5.09%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1920

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.04 AC

LAND SF

1,834 SF

ZONING

RM-1

APN/PARCEL ID

881041755

ASK ABOUT THIS PROPERTY

Nadia BilynskyMPN RealtyMore Info
267-546-1718

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Nadia BilynskyMPN RealtyMore Info
267-546-1718

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.