3515 Midvale Ave - Apartments FOR SALE


Philadelphia, PA 19129- East Falls
$12,250,000 USD
215-454-2879
3515 Midvale Ave, Philadelphia, PA for Sale
$12,250,000 USD
Apartments - FOR SALE
1/38
null | 6.19% Cap Rate

3515 Midvale Ave
Philadelphia, PA 19129
East Falls


HIGHLIGHTS

  • Boutique Luxury Apartment Living: High-End Finishes at an Affordable Price Point
  • New Construction Property: Little to No Deferred Maintenance; Turnkey Operation
  • Attractive East Falls Location: Desirable and Undersupplied Sub-Market
  • Access to Commercial Corridors: Walk to Kelly Drive and Ridge Avenue
  • Transit-Friendly Location: Short Walk to East Falls Station for Regional Rail and Numerous Bus Routes
  • Proximity to Educational Institutions: Jefferson University East Falls Campus, Drexel University College of Medicine, and William Penn Charter School

OVERVIEW

On behalf of Ownership, GREA offers qualified investors the opportunity to acquire the fee simple interest in The Vale at 3515 Midvale Avenue in the East Falls section of Philadelphia. The newly constructed property comprises 36 apartment units and 4,380 square feet of commercial space. The Vale has a desirable mix of 63% one-bedroom and 37% two-bedroom units. The Asset is a boutique luxury property, boasting high-end finishes including stainless steel appliances, stone countertops, LVP flooring, subway tile backsplashes, and sleek gray shaker-style cabinetry. Further, these units feature Central HVAC, in-unit washers/dryers, and oversized windows. The Vale offers a boutique lobby, balconies on select units, a common roof deck, a fitness center, and secure off-street parking for 33% of residents (12 spaces). Residents of The Vale live on Midvale Avenue and have a 5-minute walk to Ridge Avenue, both thriving retail corridors serving Philadelphia's East Falls neighborhood. The Property is close to amenities such as Rite Aid, Truist Bank, Le Bus Bistro, In Riva Restaurant, and Vault+Vine Coffee Shop. Residents must look no further than outside their front door for a complete suite of local and national businesses that boost occupancy and desirability. The Vale is transit-oriented, located minutes from major thoroughfares including I-76, I-676, and I-95 providing unparalleled access to the Philadelphia MSA. Furthermore, the East Falls Station on Midvale Avenue is just a short walk away, carrying commuters into Center City and the Philadelphia Suburbs via the Manayunk/Norristown Train Line.

FOR SALE DETAILS

PRICE

$12,250,000 USD

PRICE/SF

$325 USD /SF

# OF UNITS

40

PRICE/UNIT

$306,250

CAP RATE

6.19%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Vale

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

5

YEAR BUILT

2024

PARKING SPACES

12

LAND DETAILS

LAND ACRES

0.4 AC

LAND SF

17,237 SF

ZONING

CMX2.5

APN/PARCEL ID

881000429

ASK ABOUT THIS PROPERTY

215-454-2879

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215-454-2879

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