4042 Chestnut St - Apartments FOR SALE


Philadelphia, PA 19104- Spruce Hill
$12,850,000 USD
215-454-2879
4042 Chestnut St, Philadelphia, PA for Sale
$12,850,000 USD
Apartments - FOR SALE
1/4
null | 6.1% Cap Rate

4042 Chestnut St
Philadelphia, PA 19104
Spruce Hill


OVERVIEW

A trophy 25-unit, 70-bed elevator building in University City. Adjacent to the local police station and within the UPenn Security Zone, this asset offers unmatched safety credentials. The investment strategy is a "Core" play, capturing the high-end UPenn and USciences demographic. This mid-rise at 40th & Chestnut Streets features three-bedroom/three-bath layouts averaging 1,000 SF. Building amenities include a parking garage, keyless entry, and hardwood floors throughout. It is 0.3 miles from the Market-Frankford Line subway station. University City is recognized as a regional leader in science and Innovation, featuring distinguished universities and hospitals. The neighborhood spans 2.4 square miles and accommodates over 50,000 residents, alongside 85,000 jobs in various sectors, including medicine, higher education, real estate, technology, and hospitality. University City offers extensive real estate development opportunities and provides some of the region's best transportation infrastructure, including highly accessible bicycle and pedestrian thoroughfares. This prominent section of the City stands as a cultural destination and transportation hub, as well as an employment center that supports significant development projects and advances in life sciences. With a diverse population, varied housing and rental options, exceptional educational institutions and medical facilities, and a wide array of amenities, University City is considered one of Philadelphia’s premier neighborhoods and is well-positioned to address both current and future needs.

FOR SALE DETAILS

PRICE

$12,850,000 USD

PRICE/SF

$425 USD /SF

# OF UNITS

25

PRICE/UNIT

$514,000

CAP RATE

6.1%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

40th & Chestnut

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

5

YEAR BUILT

2017

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.07 AC

LAND SF

3,049 SF

ZONING

CMX4

APN/PARCEL ID

881602350

ASK ABOUT THIS PROPERTY

215-454-2879

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

215-454-2879

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