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673 N 15th St 2,713 SF Retail Building Philadelphia, PA 19130 $825,000 ($304.09/SF) 4.73% Cap Rate
EXECUTIVE SUMMARY
MPN Realty, Inc. is pleased to present the exclusive sale of 673 N 15th St., a corner 3-unit apartment building in the heart of Fairmount. The property was fully renovated in 2016, featuring new kitchens with stainless steel appliances, granite counters & white cabinets; tile surround baths; new flooring throughout; and all new systems. The unit mix consists of (3) 1 bed/ 1 bath units, all of which have a w/d in the unit, outdoor areas, and are self-contained. The property is ideal for investors and owner-occupants and provides a value-add opportunity as there is room to increase the rents. Located in the Fairmount section of Philadelphia, the site is in a very desirable area with easy access to Center City, the Art Museum, I-676, and public transportation via the Broad St line and many bus routes. Over the past couple of years, Fairmount has experienced a tremendous amount of development, with new apartments and new retailers coming to the bustling commercial corridors of N. Broad St., Spring Garden St., and Fairmount Ave.
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
2,713 SF
Building Class
C
Year Built
1915
Price
$825,000
Price Per SF
$304.09
Cap Rate
4.73%
NOI
$38,986
Tenancy
Single
Building Height
3 Stories
Building FAR
2.09
Lot Size
0.03 AC
Opportunity Zone
Yes
Zoning
C4
Frontage
Walk Score®
Walker's Paradise (93)
Transit Score®
Excellent Transit (84)
Bike Score®
Biker's Paradise (91)
NEARBY MAJOR RETAILERS
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