85 E Sharpnack St - Apartments FOR SALE


Philadelphia, PA 19119- East Mount Airy
$2,450,000 USD
610-606-1095
85 E Sharpnack St, Philadelphia, PA for Sale
$2,450,000 USD
Apartments - FOR SALE
1/50
null | 6% Cap Rate

85 E Sharpnack St
Philadelphia, PA 19119
East Mount Airy


HIGHLIGHTS

  • PRIVATE PARKING
  • TURNKEY INVESTMENT
  • HIGH-DEMAND/GROWTH LOCATION
  • EAST ACCESS TO DINING, SHOPPING DISTRICTS + TRAIN STATIONS
  • 10 YEAR TAX ABATEMENT
  • Walkable to Germantown Avenue’s commercial corridor

OVERVIEW

INTRODUCING: 85 EAST — This 9-unit gated new construction apartment community with parking is set back peacefully off the quaint cobbles of Germantown Avenue in Philadelphia’s historic Mount Airy neighborhood in NW PHL. It is a turnkey investment opportunity with an attractive 6% cap rate. Comprising 3 contiguous triplex buildings, 85 East features private parking and panoramic rooftop terraces for residents. Each building features two (2) 2bd x 1ba units on the 1st/2nd floors and one (1) 3bd x 2ba unit on the 3rd floor, with private access to the rooftop terrace. The interiors are outfitted with high-end finish kits including quartz countertops, LVP flooring, stainless-steel appliance packages, designer lighting and more. Bright, spacious and airy interiors provide a serene sense of calm inside the buildings. Walkable to Germantown Avenue’s commercial corridor lined with boutiques, shops, breweries, restaurants, cafes and historic structures, 85 East is connected to the fabric of Mount Airy’s eclectic lifestyle. Easy access into Center City and University City by train (3 minutes to Carpenter Station on Chestnut Hill West Septa line) or car (25 minutes to Center City), as well as suburban employment and entertainment districts. Walkable nearby amenities include: Mount Airy Tap Room, Acme, Lovett Memorial Library, Wawa, McMenamin’s, Jansen, Johnson House Historic Site, Weaver’s Way Co-op, Grocery Outlet, Young American Hard Cider and Tasting Room — as well as Wissahickon Valley Park, Chestnut Hill and Historic Germantown. 10 Year Tax Abatement—pay taxes on assessed land value rather than improvements. Minimal expenditures. High-growth rental submarket.

FOR SALE DETAILS

PRICE

$2,450,000 USD

PRICE/SF

$193 USD /SF

# OF UNITS

9

PRICE/UNIT

$272,222

CAP RATE

6%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

85 EAST-9 Units Mt Airy-Operational Value-add

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

2022

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.16 AC

LAND SF

6,970 SF

ZONING

RSA5

APN/PARCEL ID

881000838

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.