2731 Federal - Apartments FOR SALE


Philadelphia, PA 19146- Grays Ferry
$2,300,000 USD
610-606-1095
2731 Federal, Philadelphia, PA for Sale
$2,300,000 USD
Apartments - FOR SALE
1/87
null | 6% Cap Rate

2731 Federal
Philadelphia, PA 19146
Grays Ferry


HIGHLIGHTS

  • 19146 - LEADING PHILLY ZIP
  • SURGING RESIDENTIAL DEMAND
  • HIGH BARRIERS TO ENTRY FOR INVESTMENT
  • TOP 10 USA MSA
  • 10 YR TAX ABATEMENT
  • TURNKEY NEW CONSTRUCTION APARTMENT BUILDING

OVERVIEW

Introducing 2731 Federal — a prominent corner property located at the gateway of 19146 — one of Philly's perennial-leading residential zip codes for rentals and sales. This turnkey 7-unit multifamily investment property stands tall above the rest, with unmatched skyline views and access — convenient to I-95, Washington Ave, and all of Center City and University City alike. Gaze across the western horizon and witness the billions of dollars in active stage developments from the likes of Chop, Penn, Hup, Pennovation. The brand new $48 million section of the Schuylkill River Trail, known as Christian to Crescent, now connects Center City with the Grays Ferry neighborhood in South Philadelphia with a striking 650-foot cable bridge, visible from 2731 Federal. Fresh Grocer, Chase Bank and more retail/shops located directly across the street. Walkable to adjacent/popular neighborhoods like Graduate Hospital, Point Breeze, Rittenhouse Square and more — this location is on the edge of tangibly-visible massive transformation. The 4-storey apartment building totals over 9100 SF with ground floor commercial space and an even mixture of 1-2bd apartments above, complete with a panoramic skyline rooftop terrace. Average rents/SF = $2.29. Average rent/unit = $1,621. This boutique apartment building is poised for rent growth and appreciation for years to come — paired with an extremely low OPEX and FULL 10yr tax abatement (approx. 8.5yr remains). Benefitting from the lot's unique dimensions, the apartments are far from cookie cutter, with dramatic angles and unique perspectives, coupled with design-driven interiors and sun-soaked rooms with floor-to-ceiling windows. Sleek bathrooms and contemporary kitchens, washer-dryer in-unit, LVP flooring, flushmount lighting, high ceilings and unique layouts command attention from the rental marketplace, ensuring plentiful demand in the marketplace. Enquire within for financials.

FOR SALE DETAILS

PRICE

$2,300,000 USD

PRICE/SF

$358 USD /SF

# OF UNITS

7

PRICE/UNIT

$328,571

CAP RATE

6%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

2731 Federal St

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

2022

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.14 AC

LAND SF

6,098 SF

ZONING

I2

APN/PARCEL ID

874523160

ASK ABOUT THIS PROPERTY

Ryan McManusKeller Williams Liberty PlaceMore Info
610-606-1095

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Ryan McManusKeller Williams Liberty PlaceMore Info
610-606-1095

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