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Description
Now available, for sale: "The Maven" in Philadelphia, Pennsylvania. This boutique, 29-unit new construction apartment building represents one of the most attractive turnkey multifamily acquisition opportunities in the marketplace, located within steps of the Septa Broad Street subway. The Property is over 90% leased (actively in lease-up) with a full 10 year tax abatement and minimal operating expenditures. The Maven contains 25,600+ SF and is exceptionally located on a vibrant commercial corridor (Ridge Avenue) in a rapidly maturing urban core submarket (Francisville), which is poised for continuous rent growth and asset appreciation. $507k+ pro forma NOI. One (1) commercial space; Four (4) studios; Nineteen (19) 1-bedrooms; Five (5) 2-bedrooms. Incredible redbrick curb appeal and carefully designed, luxurious interiors. Elevator and common rooftop terrace with sweeping skyline vistas. Masterfully constructed by TCG. 10 year tax abatement.
$5,750,000 assumable loan at 5.40% for qualified borrowers.
Location
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Courtesy of: Compass Pennsylvania, LLC Listing information provided courtesy of the Bright MLS. IDX information is provided exclusively for consumers' personal, non-commercial use, and it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable, but is not guaranteed accurate by the MLS. Updated: 20th March, 2023 3:09 PM (UTC)
