1133-1137 N 4th St - Apartments FOR SALE


Philadelphia, PA 19123- Northern Liberties
$7,700,000 USD
215-531-7021
1133-1137 N 4th St, Philadelphia, PA for Sale
$7,700,000 USD
Apartments - FOR SALE
1/6
null | 6.43% Cap Rate

1133-1137 N 4th St
Philadelphia, PA 19123
Northern Liberties


HIGHLIGHTS

  • 32 Units - 2017 Construction Located in the Heart of Northern Liberties
  • Spacious Loft Style Units with Exposed Brick and Luxury Finishes
  • Excellent Basis - Priced at $240,000 Per Unit
  • Significant Upside in the Rent Roll - Average Rent is Currently 9% Below Market
  • Great Location - 2 blocks from the Piazza, Septa El Line, Liberty Lands Park, Top Rated Dining and Nightlife
  • Strong Operational History - Currently 97% Occupied

OVERVIEW

Marcus & Millichap is pleased to present for sale the Cambridge Lofts - A 32-unit adaptive re-use apartment building in the highly sought after Northern Liberties neighborhood of Philadelphia. The building is located on North 4th Street, directly south of Girard Avenue. Converted in 2017, Cambridge Lofts consists of (21) one-bedroom units, (10) two-bedroom units, and (1) three-bedroom unit. The units have several unique features, including original exposed brick walls, high ceilings, European-style cabinetry, granite countertops, stainless steel appliances, and in-unit washer/dryers. The building also offers amenities, such as an enclosed dog park, bicycle storage, secure building access, and trash chutes on every floor. Cambridge Lofts is located in Northern Liberties - One of the most sought-after and attractive rental markets in Philadelphia. This area has exhibited some of the fastest rates of rent growth in the Philadelphia MSA. Known for its numerous boutique shops, fine dining, and trendy bars and hot spots, Northern Liberties/Fishtown has become a destination for a diverse pool of people, including young professionals, families, recent college graduates and generations of Philadelphians.

FOR SALE DETAILS

PRICE

$7,700,000 USD

PRICE/SF

$256 USD /SF

# OF UNITS

32

PRICE/UNIT

$240,625

CAP RATE

6.43%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Cambridge Lofts

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1950

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.36 AC

LAND SF

15,886 SF

ZONING

IRMX

APN/PARCEL ID

881006667

ASK ABOUT THIS PROPERTY

Clarke TaloneMarcus & MillichapMore Info
215-531-7021

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

Clarke TaloneMarcus & MillichapMore Info
215-531-7021

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