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Vincent Court 2115 N 63rd St 13 Unit Apartment Building $1,975,000 ($151,923/Unit) 6.52% Cap Rate Philadelphia, PA 19151
Investment Highlights
- Fully Occupied, 11 residential units, 2 commercial units, 19 garages, 6 surface parking spaces
- Close to Saint Joseph's University and Lankenau Hospital
- Close to public transportation
- Value add opportunity
Executive Summary
Remarkable mixed-use investment opportunity in Overbrook, close to Saint Joseph's University and City Ave! 13 Unit Building plus 19 Garages. Featuring 11 residential rental units, 2 commercial units, and 19 garages, this prominent building with strong rental history is a rare find and a cash-flowing addition to your portfolio. Fully occupied, the residential units comprise of 2 studios, 6 one-bedroom, and 3 two-bedroom units, some of which have been updated already. Both commercial spaces are occupied by long-term tenants. There is also a brand new common laundry room and an additional surface lot for tenant parking. Steps from Overbrook Septa Station, this location offers easy access to the city and the Main Line. Easy access to City Ave, Lancaster Ave, and 76 and nearby institutions like Saint Joseph's University and Lankenau Hospital.
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- Operating and Financials
Property Facts
| Price | $1,975,000 | Building Class | C |
| Price Per Unit | $151,923 | Lot Size | 0.34 AC |
| Sale Type | Investment | Building Size | 9,181 SF |
| Cap Rate | 6.52% | Average Occupancy | 100% |
| No. Units | 13 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1922 |
| Property Subtype | Apartment | Parking Ratio | 2.61/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | C2, Philadelphia - C2 zoning allows for a variety of commercial uses like retail stores, restaurants, offices, and hotels. | ||
| Price | $1,975,000 |
| Price Per Unit | $151,923 |
| Sale Type | Investment |
| Cap Rate | 6.52% |
| No. Units | 13 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.34 AC |
| Building Size | 9,181 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1922 |
| Parking Ratio | 2.61/1,000 SF |
| Zoning | C2, Philadelphia - C2 zoning allows for a variety of commercial uses like retail stores, restaurants, offices, and hotels. |
Amenities
Unit Amenities
- Balcony
- Heating
- Kitchen
- Hardwood Floors
- Refrigerator
- Oven
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 2 | $870.00 | - |
| 1+1 | 6 | $975.00 | - |
| 2+1 | 1 | $1,245 | - |
| 2+2 | 2 | $1,253 | - |
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Walk Score®
Very Walkable (70)
Property Taxes
| Parcel Number | 881128100 | Improvements Assessment | $840,700 |
| Land Assessment | $360,300 | Total Assessment | $1,201,000 |
Property Taxes
Parcel Number
881128100
Land Assessment
$360,300
Improvements Assessment
$840,700
Total Assessment
$1,201,000
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