Description
Supremely located, cash flowing, 12-unit asset in the Roxborough neighborhood of Northwest Philly. Two (2) commercial spaces (national medical chain and local favorite culinary destination) and ten (10) apartments on a commanding corner intersection along the Ridge Avenue thriving commercial corridor. Ideal for 1031 exchange. This boutique multifamily offering represents one of the most prime properties available for sale in the Philadelphia real estate market. Rents are approximately 15% below market; new ownership can capture loss-to-lease without performing any renovation/capital upgrades. 6.37% pro forma cap rate. Blue-chip investment. Amenities abound @ Ridge and Krams +GG breweries, pocket parks, cafes, restaurants and shops line the avenue for miles in this "city suburban" beloved location.Ten (10) apartments atop two (2) essential ground floor retail businesses with long term leases provides commercial cash flow certainty and residential rental recapture upside.
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0BEDS
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0.15ACRES
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0BATHS
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01/2 BATHS
Description
Supremely located, cash flowing, 12-unit asset in the Roxborough neighborhood of Northwest Philly. Two (2) commercial spaces (national medical chain and local favorite culinary destination) and ten (10) apartments on a commanding corner intersection along the Ridge Avenue thriving commercial corridor. Ideal for 1031 exchange. This boutique multifamily offering represents one of the most prime properties available for sale in the Philadelphia real estate market. Rents are approximately 15% below market; new ownership can capture loss-to-lease without performing any renovation/capital upgrades. 6.37% pro forma cap rate. Blue-chip investment. Amenities abound @ Ridge and Krams +GG breweries, pocket parks, cafes, restaurants and shops line the avenue for miles in this "city suburban" beloved location.Ten (10) apartments atop two (2) essential ground floor retail businesses with long term leases provides commercial cash flow certainty and residential rental recapture upside.
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