Port Richmond Loft Portfolio | 185 Units 3 Multifamily Properties Offered at $39,000,000 in Philadelphia, PA

The Port Richmond Loft Portfolio comprises three properties with a total of 185 apartment units and 68 gated surface parking spaces. The Portfolio includes Collins Lofts, East Tioga Lofts, and Westmoreland Lofts. These former industrial properties have been reimagined into character-rich residences featuring vaulted ceilings, exposed brick, and higher-end finishes. Furthermore, East Tioga Lofts features 12 new construction units located at the rear of the property, adjacent to the parking lot.
The Portfolio offers new ownership immediate scale, ease of management, and turnkey operations free of deferred maintenance. Furthermore, there is an opportunity for mission-driven investment, preserving naturally occurring affordable housing for low- and moderate-income families and individuals.
The Properties are positioned in the rapidly growing Port Richmond neighborhood of Philadelphia, directly adjacent to the Aramingo Avenue commercial corridor. National tenants such as Walmart, Lidl, Ross, Burlington Coat Factory, Applebee’s, and The Home Depot are anchor commercial tenants on the Avenue.
Current and future renters are blocks from the Tioga Station on the SEPTA Market-Frankford Train Line, carrying commuters into Center City Philadelphia within 20 minutes. Motorists are less than 10 minutes from I-95, which allows anyone living in these Assets to work in New Jersey, Delaware, or Philadelphia.
Purchase Options
Collins Lofts: Offering Price of $21,000,000 with Loan Assumption Purchase Option (33.4% Cash Down; 6.5% Cash-on-Cash Return)
East Tioga Lofts: Offering Price of $9,300,000 with Loan Assumption Purchase Option (26.8% Cash Down; 5.3% Cash-on-Cash Return); or a Free & Clear Purchase Option
Westmoreland Lofts: Offering Price of $8,700,000 with a Free & Clear Purchase Option