1828 Frankford Ave - Apartments FOR SALE


Philadelphia, PA 19125- Fishtown
$4,695,000 USD
215-315-3326
1828 Frankford Ave, Philadelphia, PA for Sale
$4,695,000 USD
Apartments - FOR SALE
1/20
null | 5.95% Cap Rate

1828 Frankford Ave
Philadelphia, PA 19125
Fishtown


HIGHLIGHTS

  • Turnkey 6.0% Cap with 9 Luxury Apartments & 1 Retail Unit with a Triple-Net Lease
  • Low Operating Costs due to New Construction & 10-Year Tax Abatement
  • Strong Tenant Appeal with Unique Architecture & High-End Finishes
  • Main-on-Main, High-Visibility Corner in a Rapidly Growing Submarket

OVERVIEW

Select Commercial Advisors is pleased to present the opportunity to acquire a turnkey, fully-stabilized 10-unit multifamily asset with a 10-year tax abatement in Fishtown, featuring 9 luxury residential units and 1 commercial space located on a prime, high-visibility corner of bustling Frankford Avenue. Acquire this high-quality, low-maintenance, new-construction property designed by Ambit Architecture and built by Grit Construction. Delivered 100% leased, the property offers both steady cash flow and strong future upside driven by the rapidly-developing Fishtown/Northern Liberties submarket. Ownership has secured an attractive triple-net commercial lease on a ten year term with Taylor Chip for the ~1,650 square foot ground floor retail space. As new construction deliveries in this submarket slow down over the next 1-2 years, demand is expected to outpace supply, driving further rental growth in this vibrant and rapidly appreciating neighborhood. This is a unique opportunity for investors to acquire a high-quality, income-producing asset and capitalize on a growing market with significant long-term upside.

FOR SALE DETAILS

PRICE

$4,695,000 USD

PRICE/SF

$443 USD /SF

# OF UNITS

9

PRICE/UNIT

$521,667

CAP RATE

5.95%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

2024

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.08 AC

LAND SF

3,485 SF

ZONING

CMX2

APN/PARCEL ID

183050100

ASK ABOUT THIS PROPERTY

Samantha MillerSelect Commercial AdvisorsMore Info
215-315-3326

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Samantha MillerSelect Commercial AdvisorsMore Info
215-315-3326

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