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919 N 19th St 6 Unit Apartment Building $850,000 ($141,667/Unit) 5.42% Cap Rate Philadelphia, PA 19130
INVESTMENT HIGHLIGHTS
- Located in the Fairmount section of Philadelphia
- Fairmount has experienced a tremendous amount of development.
- The site is in a very desirable area with easy access to Center City, the Art Museum, I-676
- With new apartments and new retailers coming to the bustling commercial corridors of N. Broad St., Spring Garden St., and Fairmount Ave.
EXECUTIVE SUMMARY
MPN Realty, Inc. is pleased to present the exclusive sale of 919 N. 19th St., a 3-unit apartment building in the heart of Fairmount. The property was fully renovated in 2016, featuring new kitchens with stainless steel appliances, corian counters & new cabinets; tile surround baths; new flooring throughout; and all new systems. The unit mix consists of (1) 3 bed/ 2 bath unit and (2) 1 bed/ 1 bath units, all of which have w/d in 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
| Price | $850,000 | Apartment Style | Low-Rise |
| Price Per Unit | $141,667 | Building Class | C |
| Sale Type | Investment | Building Size | 2,751 SF |
| Cap Rate | 5.42% | No. Stories | 3 |
| No. Units | 6 | Year Built/Renovated | 1915/2016 |
| Property Type | Multifamily | Opportunity Zone |
Yes
|
| Property Subtype | Apartment | ||
| Zoning | RM-1 - moderate-density, multiple-family residential district | ||
| Price | $850,000 |
| Price Per Unit | $141,667 |
| Sale Type | Investment |
| Cap Rate | 5.42% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Building Size | 2,751 SF |
| No. Stories | 3 |
| Year Built/Renovated | 1915/2016 |
| Opportunity Zone |
Yes |
| Zoning | RM-1 - moderate-density, multiple-family residential district |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 3+2 | 1 | $1,950 | - |
| 1+1 | 2 | $1,400 | - |
| 2+1 | 3 | $1,650 | - |
1 1
Walk Score®
Very Walkable (86)
Transit Score®
Excellent Transit (77)
Bike Score®
Very Bikeable (80)
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