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Blue-chip real estate investment opportunity awaits @ 1612 Cambridge — an expertly designed new multifamily development in the Francisville section of Philadelphia, Pennsylvania. This cash-flowing, 15-unit apartment building with parking, skyline rooftop terrace and 10 year tax abatement is ideal for a 1031 exchange. The units are rented for an average of ±$2200/mo. There are five (5) 2bd x 1ba condos and ten (10) 2bd x 2ba condos offered for sale in this 21-unit condominium property. The Location is walkable to the Broad Street Septa subway (North Broad line), as well as downtown Philly and the Fairmount, Brewerytown & Spring Garden neighborhoods — top-notch amenities, restaurants, cafes and breweries in every direction. Average rent per square foot is $2.14. 1:1 private parking is available for the rentals. It's a gated, private surface level garage. Easy access in and out of the building and units; all doors on e-locks. Exterior security system monitoring. Deluxe interior fit-outs in every unit: quartz counters and backsplash, GE Cafe appliance package, washer-dryer in every unit, exposed ductwork, skyline vistas in southern-facing units, custom shower-glass enclosures, matte black plumbing fixtures and hardware, and more. These units are designed as condos and therefore achieve rental premiums in the marketplace, providing an advantage over the competition. Extremely low condo fees (just 26 cents per square foot) + minimal expenditures required to run a profitable building. Offered for sale at an attractive 6.25% cap rate. FULL 10 year tax abatement. Enquire within for pro forma financials, plans and more.
|16 hours ago||Listing updated with changes from the MLS|
|a week ago||Status changed to Active|
|4 weeks ago||Listing first seen online|