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643-645 N 15th St 10 Unit Apartment Building $2,950,000 ($295,000/Unit) 6.10% Cap Rate Philadelphia, PA 19130
INVESTMENT HIGHLIGHTS
- Luxury Finishes: Renovated Apartment Units with Condo-Quality Finishes
- Transit Oriented: Minutes from SEPTA Broad Street Subway Line
- Turnkey Operation: No Deferred Maintenance Allowing Easy Management
- Affluent Fairmount Location: Dense, Highly Desirable Neighborhood in Philadelphia
- Center City Access: Proximity to Downtown Philadelphia
EXECUTIVE SUMMARY
Global Real Estate Advisors (GREA) extends to well-qualified investors the unique opportunity to acquire the fee simple interest in 643-45 North 15th Street (the “Properties” or the “Assets”). These newly renovated Properties are comprised of 10 total apartment units in the affluent Fairmount neighborhood of Philadelphia.
Fairmount is highly desirable due to its strategic location – it sits Northwest of Center City Philadelphia and is adjacent to East Fairmount Park and the Philadelphia Museum of Art. Unlike other resurgent neighborhoods in Philadelphia (Northern Liberties and Fishtown), Fairmount enjoys easy access to Center City via the SEPTA Broad Street Line, which has multiple stops (Fairmount Station and Spring Garden Station) within walking distance of the Properties. The neighborhood is also adjacent to Kelly Drive, I-676, and I-76. Major thoroughfares that carry motorists throughout the Philadelphia MSA.
The Assets are newly renovated, three-story buildings offering high-end finishes within two historic brownstones. The Properties offer an attractive unit mix with 70% being one-bedroom or studio apartments and 30% two-bedroom apartments. Every unit enjoys 9+ foot ceilings with high-end finishes including stone countertops, stainless steel appliances, modern baths, ample closet space, washer/dryer, and oversized windows allowing an abundance of natural light.
Fairmount is highly desirable due to its strategic location – it sits Northwest of Center City Philadelphia and is adjacent to East Fairmount Park and the Philadelphia Museum of Art. Unlike other resurgent neighborhoods in Philadelphia (Northern Liberties and Fishtown), Fairmount enjoys easy access to Center City via the SEPTA Broad Street Line, which has multiple stops (Fairmount Station and Spring Garden Station) within walking distance of the Properties. The neighborhood is also adjacent to Kelly Drive, I-676, and I-76. Major thoroughfares that carry motorists throughout the Philadelphia MSA.
The Assets are newly renovated, three-story buildings offering high-end finishes within two historic brownstones. The Properties offer an attractive unit mix with 70% being one-bedroom or studio apartments and 30% two-bedroom apartments. Every unit enjoys 9+ foot ceilings with high-end finishes including stone countertops, stainless steel appliances, modern baths, ample closet space, washer/dryer, and oversized windows allowing an abundance of natural light.
PROPERTY FACTS
| Price | $2,950,000 | Building Class | C |
| Price Per Unit | $295,000 | Lot Size | 0.12 AC |
| Sale Type | Investment | Building Size | 17,369 SF |
| Cap Rate | 6.10% | No. Stories | 3 |
| No. Units | 10 | Year Built/Renovated | 1975/2024 |
| Property Type | Multifamily | Parking Ratio | 0.43/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | RM1 | ||
| Price | $2,950,000 |
| Price Per Unit | $295,000 |
| Sale Type | Investment |
| Cap Rate | 6.10% |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.12 AC |
| Building Size | 17,369 SF |
| No. Stories | 3 |
| Year Built/Renovated | 1975/2024 |
| Parking Ratio | 0.43/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | RM1 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Washer/Dryer
- Heating
- Granite Countertops
- Stainless Steel Appliances
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Smoke Free
- Walk-Up
- Smoke Detector
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Walk Score®
Walker's Paradise (93)
Transit Score®
Excellent Transit (84)
Bike Score®
Biker's Paradise (91)
PROPERTY TAXES
| Parcel Number | 881809005 | Improvements Assessment | $743,750 |
| Land Assessment | $131,250 | Total Assessment | $875,000 |
PROPERTY TAXES
Parcel Number
881809005
Land Assessment
$131,250
Improvements Assessment
$743,750
Total Assessment
$875,000
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