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3416-3422 N Sydenham St
Philadelphia, PA 19140
Sydenham Arms Apartments · Multifamily Property For Sale
·
12 Units
Investment Highlights
- Twelve Large Three-Bedroom, Two-Bathroom Units at ±1,100 SF Each
- In-Unit Laundry, Central Air, Balconies, & Garbage Disposals
- Excellent Access to Area Retail, Interstate 76, & Regional Transit
- Underground Parking Garage with 12 Dedicated Spaces
- Located Two Blocks From Temple University Medical School & Three Blocks From Broad & Erie SEPTA Station with Access to Center City
- Poised to Benefit From Temple University's Growth & Submarket Redevelopment
Executive Summary
Marcus & Millichap is pleased to present Sydenham Arms Apartments, a twelve-unit multifamily property located at 3416 N Sydenham Street in the Nicetown-Tioga neighborhood of northern Philadelphia, PA. Positioned just two blocks West of the Lewis Katz School of Medicine at Temple University and three blocks South of the Broad & Erie Septa Station, Sydenham Arms offers a terrific central location with easy access to public transit and interstate, as well as local area retail.
Sydenham Arms is comprised of twelve, three-bedroom & two-bathroom units, measuring approximately 1,100 sf, respectively. The property features twelve car underground parking, central air, in-unit laundry, balconies, and garbage disposals. Ownership installed new windows, hot water tanks, and new floors throughout the units in 2018.
Temple University, being the submarket’s major economic driver, has been on an upswing in recent years. Coming off a record setting fall of applications and admissions, Temple University is poised to continue its growth as they embark on various capital projects on both of their undergraduate and medical college campuses. The University’s growth has attracted local, regional and national investors' attention, making the surrounding area a target for continued investment.
Sydenham Arms is comprised of twelve, three-bedroom & two-bathroom units, measuring approximately 1,100 sf, respectively. The property features twelve car underground parking, central air, in-unit laundry, balconies, and garbage disposals. Ownership installed new windows, hot water tanks, and new floors throughout the units in 2018.
Temple University, being the submarket’s major economic driver, has been on an upswing in recent years. Coming off a record setting fall of applications and admissions, Temple University is poised to continue its growth as they embark on various capital projects on both of their undergraduate and medical college campuses. The University’s growth has attracted local, regional and national investors' attention, making the surrounding area a target for continued investment.
Property Facts Under Contract
| Price Per Unit | $158,333 | Lot Size | 0.20 AC |
| Sale Type | Investment | Building Size | 14,000 SF |
| Cap Rate | 8.01% | Average Occupancy | 100% |
| No. Units | 12 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 2013 |
| Property Subtype | Apartment | Parking Ratio | 0.86/1,000 SF |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Building Class | B | ||
| Zoning | C2 - C-2 district typically represents a general commercial zone, often designed to accommodate a broader range of commercial activities | ||
| Price Per Unit | $158,333 |
| Sale Type | Investment |
| Cap Rate | 8.01% |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.20 AC |
| Building Size | 14,000 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 2013 |
| Parking Ratio | 0.86/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | C2 - C-2 district typically represents a general commercial zone, often designed to accommodate a broader range of commercial activities |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Dishwasher
- Washer/Dryer
- Granite Countertops
- Sprinkler System
- Yard
- Wheelchair Accessible (Rooms)
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+2 | 12 | - | 1,100 |
Property Taxes
| Parcel Number | 881070550 | Improvements Assessment | $867,930 |
| Land Assessment | $371,970 | Total Assessment | $1,239,900 |
Property Taxes
Parcel Number
881070550
Land Assessment
$371,970
Improvements Assessment
$867,930
Total Assessment
$1,239,900
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Sydenham Arms Apartments | 3416-3422 N Sydenham St