6400 Haverford Ave - Apartments FOR SALE


Philadelphia, PA 19151- West Philadelphia
$9,250,000 USD
215-302-4400
6400 Haverford Ave, Philadelphia, PA for Sale
$9,250,000 USD
Apartments - FOR SALE
1/25
null | 6.61% Cap Rate

6400 Haverford Ave
Philadelphia, PA 19151
West Philadelphia


HIGHLIGHTS

  • 47-Unit Luxury Workforce Housing | Haddington Neighborhood of West Philadelphia
  • Upside Potential | Current average rents are about 11 percent under market, presenting an opportunity for increased revenue through rent adjustments.
  • Full 10-year Tax Abatement
  • Diverse Unit Mix | Offers 18 studios, 14 one-bedroom, one-bath units, five two-bedroom, one-bath units, and ten two-bedroom, two-bath units, with some
  • Below Cost of New Construction | The price per unit is less than the average cost to build new construction in today's market.
  • Community Amenities | Tenant gym, expansive courtyard, surveillance cameras, and additional personal storage.

OVERVIEW

SCOPE Commercial Real Estate Services, LLC "SCOPE" is pleased to present the opportunity to acquire 6400 Haverford Avenue, a 47-unit adaptive reuse in the Haddington Neighborhood of West Philadelphia. 6400 Haverford Avenue is a unique adaptive reuse property that has transformed a historic church, convent, and rectory into a 47-unit multifamily apartment complex. The property had all 3 buildings converted to market rate apartments. The unit mix includes 18 studios, 14 one-bed, one-bath units, five two-bed, one-bath units, and 10 two-bed, two-bath units. The current average rent for each unit type is $1,075 for studios, $1,328 for one-beds, $1,511 for two-bed, one-bath units, and $1,813 for two-bed, two-bath units. Eight of the units have lofted ceilings and two are bi-level. The property has a full 10-year tax abatement. Property amenities include a tenant gym, an expansive front yard with sitting areas, surveillance cameras for added security, and additional storage available for tenants at $25 per month. The apartments feature high-quality finishes, including wide plank red oak flooring, high ceilings with recessed lighting, open-concept layouts, in-unit washer and dryer, and large windows that create a spacious and bright atmosphere. Kitchens are equipped with quartz countertops, ceramic tile backsplashes, stainless steel appliances, and garbage disposals, while bathrooms offer modern glass shower doors. The property is located in the Haddington neighborhood of West Philadelphia, just 4.5 miles from downtown. Haddington is known for its historic charm and community atmosphere, with a mix of early 1900s row homes and colonial architecture that add character to the area. Residents of 6400 Haverford enjoy easy access to a range of local attractions and family-friendly activities, including the Please Touch Museum and the Philadelphia Zoo, both within a short distance. For outdoor relaxation, West Fairmount Park is nearby, offering scenic city views perfect for picnics and the annual Cherry Blossom Festival. Haddington’s proximity to public transportation, including SEPTA buses, SEPTA light rail, and the Market-Frankford Line, makes commuting to other parts of Philadelphia seamless, while major highways like I-76 and US Route 1 are easily accessible for those traveling by car. This prime location, combined with the high-quality features and modern amenities of 6400 Haverford Avenue, makes it an attractive investment opportunity in a well-connected and culturally rich area of West Philadelphia.

FOR SALE DETAILS

PRICE

$9,250,000 USD

PRICE/SF

$185 USD /SF

# OF UNITS

47

PRICE/UNIT

$196,809

CAP RATE

6.61%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Hillside Lofts

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1930

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.51 AC

LAND SF

22,366 SF

ZONING

RM1

APN/PARCEL ID

881000624

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.