5600-5606 Germantown Ave - Apartments FOR SALE


Philadelphia, PA 19144- Germantown
$2,150,000 USD
856-701-3259
5600-5606 Germantown Ave, Philadelphia, PA for Sale
$2,150,000 USD
Apartments - FOR SALE
1/6
null | 7.57% Cap Rate

5600-5606 Germantown Ave
Philadelphia, PA 19144
Germantown


HIGHLIGHTS

  • 16-Unit Mixed-Use Over 7,021 SF of Commercial | Philadelphia, PA
  • Multifamily Value-Add Opportunity | There is a 24 percent upside as is, with the opportunity for a 37 percent increase if unit interiors are renovated
  • Commercial Guarantees | Personal Guarantees have been signed with ownership
  • Commercial Upside | About $36,000 rental upside if the third unit is leased
  • Ease of Transportation | 5-minute walk to SEPTA regional rail

OVERVIEW

SCOPE Commercial Real Estate Services, LLC ("SCOPE") is pleased to present the opportunity to acquire Frederick Douglas Apartments, a 16-unit mixed use asset over 7,021 square feet of commercial space in the Germantown neighborhood of Philadelphia, PA. The property offers five studios, five one-bedroom, one-bathroom units, and six two bedroom, one-bathroom units. The average monthly rent is $800 for studios, $775 for one-bedroom units, and $1,024 for the two-bedroom units, resulting in an overall average rent of $876 per unit. New ownership can raise rents to meet the market as is for about a 24 percent upside. Additionally, renovating unit interiors could allow for a 37 percent rent growth from the current rents.

FOR SALE DETAILS

PRICE

$2,150,000 USD

PRICE/SF

$87 USD /SF

# OF UNITS

16

PRICE/UNIT

$134,375

CAP RATE

7.57%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Frederick Douglas Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1958

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.19 AC

LAND SF

8,059 SF

ZONING

C3

APN/PARCEL ID

881097326

ASK ABOUT THIS PROPERTY

Phil SharrowScope Commercial Real Estate Services, LLCMore Info
856-701-3259

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Phil SharrowScope Commercial Real Estate Services, LLCMore Info
856-701-3259

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