2220 Delancey Pl - Apartments FOR SALE


Philadelphia, PA 19103- Fitler Square
$1,300,000 USD
215-454-2879
2220 Delancey Pl, Philadelphia, PA for Sale
$1,300,000 USD
Apartments - FOR SALE
1/7
null | 6% Cap Rate

2220 Delancey Pl
Philadelphia, PA 19103
Fitler Square


HIGHLIGHTS

  • Convenient to Major Highways: Access to I-95, I-76, and I-676
  • Abundant Neighborhood Amenities: Mix of Award-Winning Restaurants and Retail
  • Proximate to Major Employers: Walking Distance of Comcast, CHOP, HUP, and the University of Pennsylvania
  • Turnkey Investment Opportunity: Renovated Unit Interiors and Common Areas
  • Desirable Unit Mix: (1) Studio Unit and (4) One-Bedroom Units

OVERVIEW

On behalf of Ownership, GREA is pleased to exclusively offer the opportunity to acquire the fee simple interest in 2220 Delancey Place located in the Fitler Square neighborhood of Center City Philadelphia (the “Property” or “Asset”). The Asset comprises 5 apartment units with (1) studio and (4) one-bedroom floor plans. The Property presents new ownership with the opportunity to own a turnkey asset in the affluent Fitler Square neighborhood of Philadelphia. 2220 Delancey Place was recently renovated to include a stainless-steel appliance package, subway tile backsplashes, white shaker cabinetry, upgraded standup showers with rain showerheads, and improved lighting. The Property combines a luxury finish with the character of a historic brownstone walk-up. The Property is in the middle of it all, servicing a growing tenant base looking for a location surrounded by restaurants, coffee shops, and nightlife. Tenants are within walking distance of Fitler Square, Rittenhouse Square, and the Schuylkill River Trail, adding an abundance of green space to a dense residential neighborhood. 2220 Delancey Place is minutes from major highway routes such as Interstate 76, 676, and 95 presenting unparalleled access throughout the Philadelphia MSA. Furthermore, tenants are a short walk into Center City and University City, home to major employers such as Comcast, Aramark, and the University of Pennsylvania Health System. The Asset provides new ownership the prospect of acquiring a quality turnkey property that has and will continue to perform well into the future.

FOR SALE DETAILS

PRICE

$1,300,000 USD

PRICE/SF

$419 USD /SF

# OF UNITS

5

PRICE/UNIT

$260,000

CAP RATE

6%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1900

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.04 AC

LAND SF

1,742 SF

ZONING

RM1

APN/PARCEL ID

881527715

ASK ABOUT THIS PROPERTY

215-454-2879

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215-454-2879

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