327 N 40th St - Apartments FOR SALE


Philadelphia, PA 19104- Powelton
$1,985,000 USD
215-302-4400
327 N 40th St, Philadelphia, PA for Sale
$1,985,000 USD
Apartments - FOR SALE
1/26
null | Request Cap Rate

327 N 40th St
Philadelphia, PA 19104
Powelton


HIGHLIGHTS

  • 6-Unit Multifamily Asset | University City District
  • Excellent Unit Mix | Two-Bed, Three-Bed, and Four-Bed Units
  • 10-Year Tax Abatement in 2019 | Abatement Ends in 2029 and has 4 years remaining
  • Rental Upside | Seven Percent Upside in Market Rents; Boosts Cap Rate to Over 7.5 Percent
  • Strong Rental Market | 100 Percent Occupied | Outstanding Rental Pool of Students, Young Professionals, and Families
  • World Class Eds & Meds | Access to UPenn, Drexel, St. Joseph's, CHOP, & Penn Medicine

OVERVIEW

SCOPE Commercial Real Estate Services, LLC "SCOPE" is pleased to present the opportunity to acquire 327 N 40th Street, a 6-unit multifamily asset in Philadelphia. 327 N 40th Street was built in 2018 and comprises an excellent unit mix of primarily three- and four-bedroom bi-level units. The property offers spacious units that average roughly 1,500 square feet. The units feature high-end finishes throughout, including granite counter-tops, stainless-steel appliances including glasstop ranges, and beautiful bamboo floors. Select units feature a large private backyard or rooftop deck. All units include in unit washers & dryers and central air and heat. The bathrooms have tile flooring and full-sized tubs or showers. Community amenities include a fenced front yard with bike rack, key-less front door entry, security cameras, and a fire alarm system. The building is located in a safe neighborhood double patrolled by University of Penn police and local police. Located in the heart of University City, 327 N 40th Street offers the perfect blend of convenience and neighborhood charm. Just a five-minute walk from the 40th Street SEPTA Sta on, residents enjoy quick access to public transportation, Penn Medicine, the University of Pennsylvania, and Drexel University including 3201 Cuthbert Street, a state-of-the-art 500,000 square foot life sciences building on Drexel's campus.

FOR SALE DETAILS

PRICE

$1,985,000 USD

PRICE/SF

$203 USD /SF

# OF UNITS

6

PRICE/UNIT

$330,833

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

2018

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.07 AC

LAND SF

3,049 SF

ZONING

R10

APN/PARCEL ID

881161740

ASK ABOUT THIS PROPERTY

Phil SharrowScope Commercial Real Estate Services, LLCMore Info
215-302-4400

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Phil SharrowScope Commercial Real Estate Services, LLCMore Info
215-302-4400

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