Kathy Santy - Coldwell Banker Hearthside
1341 N Marston St
PHILADELPHIA, PA 19121

$5,140,000

Description

Investor alert: Brewerytown Commons is located in the coveted new "Opportunity Zone." Investments made by individuals through special funds in these new zones would be allowed to defer or eliminate federal taxes on capital gains. One hundred billion dollars in capital are expected to spur development in these zones. This 4-building collection of new construction multifamily properties totals 18,900+ SF with 17 units located in the booming Brewerytown area of Philadelphia. This submarket has become one of the most in-demand neighborhoods in all of Philly, with notable retailers, amenities, bars, cafes and restaurants conveniently sprinkled throughout the area to support the thousands of new residential units delivered over the last half decade. The area is primarily made up of millennials, YP's and long-time property owners. The portfolio was developed carefully by Argo Property Group, master builders of high quality multifamily properties in Philadelphia. Expect cash flow and appreciation from day one of ownership. Each spacious 2-3 bedroom unit features open concept living, high-design interiors, quartz countertops, pendant lighting, high ceilings, modern appliances and conveniences throughout. The secure boutique buildings feature oversized energy efficient windows for dramatic natural light, significant curb appeal and offer the future owner an opportunity to achieve critical mass in a rapidly growing area ? 3 buildings are located on the 1300 block of Marston while the remaining property is located on the 1200 block of 27th, just two blocks apart. Also on the 1200 block of 27th is another collection of 17 units also developed by Argo Property Group (no longer available). Washer/dryer combos in each unit. High efficiency HVAC and mechanicals. Low expenses. Tenants pay utilities. The portfolio is surrounded by other tastefully-designed new developments, Brewerytown's booming Girard Ave commercial corridor with destinations like Pizza Dads, Crime & Punishment Brewing Co., cycle studios, yoga studios, cafes, bars, and other hip retailers,.common amenities, Fairmount Park greenery and great access to public/mass transportation. This limited investment opportunity provides a strong 6+ cap rate with over 309k in combined NOI. Designed to "for sale" caliber specs. 10 yr tax abatement. 1 year builder warranty. Roof decks and patios and shared outdoor spaces are featured in most units. Financing term sheet available upon request.

Details

MLS#1009971340
StyleIndustrial
Sub-TypeResale
StatusActive
Year2018
Days On Site51

Features

SQ Feet18,912
Story(s)0
ZoningRM1

Market Activity 19121

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Area Information

StatePA
CityPHILADELPHIA
Zip Code19121
Area19121 (19121)
Listing VS Median (in 19121)
Price:
$5,140,000
low | high
Med:
$89,900
100% of Average
SqFt:
18,912
low | high
Med:
1,072
100% of Average
$ / SqFt:
$272
low | high
Med:
$84
100% of Average
On Site:
51
low | high
Med:
152
33.552631578947% of Average
Listing Updated: 12/10/2018
MLS Number: 1009971340
Listing Provided By:
Ryan J McManus  of  BHHS Fox Roach-Center City Walnut

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