710-716 S American St - Apartments FOR SALE


Philadelphia, PA 19147- Queen Village-Pennsport
$4,610,000 USD
610-606-1095
710-716 S American St, Philadelphia, PA for Sale
$4,610,000 USD
Apartments - FOR SALE
1/29
null | Request Cap Rate

710-716 S American St
Philadelphia, PA 19147
Queen Village-Pennsport


HIGHLIGHTS

  • Turnkey, stabilized loft apartment building
  • located in the coveted Queen Village submarket of Philadelphia
  • 30 parking spaces in private, secure garage
  • quiet, extremely well-maintained street

OVERVIEW

Introducing "Bainbridge Lofts" at 710-16 South American Street: a turnkey, stabilized loft apartment building located in the coveted Queen Village submarket of Philadelphia, Pennsylvania. With 13 units and 30 parking spaces in a private, secure garage, Bainbridge Lofts provides residents with the ultimate urban lifestyle rooted in convenience and character. With exposed brick and beam throughout the property, tenants feel instantly at home, tucked away on a quiet, extremely well-maintained street (the property runs from South 3rd Street to American Street) in a location that's walkable to many of the city's top restaurants, cafes, parks and shops. Hardwood floors, stainless steel appliances, quartz countertops, spiral staircases, shaker cabinetry and exposed ductwork lend additional interior appeal, while the redbrick facade provides immediate curb appeal. Assumable financing is in place (subject to lender approval) with a highly-attractive 4.85% interest rate through November 1st 2027, with a 5-year extension option available through 2032. Generational blue-chip multifamily assets such as Bainbridge Lofts rarely come to market due to limited supply in the residential neighborhoods they inhabit. Tangible rental upside exists for new ownership to raise rents via cosmetic enhancements if desired. This could be done on an unobtrusive basis (unit by unit rather than full building) so as to not disturb the existing tenant base. Located just outside of the urban core in a tranquil setting with convenient connections to all of Philly's main arteries and roadways, Bainbridge Lofts is positioned for sustainable demand for decades to come.

FOR SALE DETAILS

PRICE

$4,610,000 USD

PRICE/SF

$152 USD /SF

# OF UNITS

13

PRICE/UNIT

$354,615

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

BAINBRIDGE LOFTS - 13 UNITS + 30 PARKING

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1900

PARKING SPACES

30

LAND DETAILS

LAND ACRES

0.23 AC

LAND SF

10,019 SF

ZONING

RM-1

APN/PARCEL ID

881571850

ASK ABOUT THIS PROPERTY

Ryan McManusAgent PHLMore Info
610-606-1095

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Ryan McManusAgent PHLMore Info
610-606-1095

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