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710 S American St
For Sale $4,750,000
$4,750,000
- 13 Units
- Unknown Sq Ft
- 9,924 Sq Ft
- Unknown Cap Rate
Description
Introducing "Bainbridge Lofts" at 710-16 South American Street: a turnkey, stabilized loft
apartment building located in the coveted Queen Village submarket of Philadelphia,
Pennsylvania. With 13 units and 30 parking spaces in a private, secure garage, Bainbridge
Lofts provides residents with the ultimate urban lifestyle rooted in convenience and character.
With exposed brick and beam throughout the property, tenants feel instantly at home, tucked
away on a quiet, extremely well-maintained street (the property runs from South 3rd Street to
American Street) in a location that's walkable to many of the city's top restaurants, cafes,
parks and shops. Hardwood floors, stainless steel appliances, quartz countertops, spiral
staircases, shaker cabinetry and exposed ductwork lend additional interior appeal, while the
redbrick facade provides immediate curb appeal. Assumable financing is in place (subject to
lender approval) with a highly-attractive 4.85% interest rate through November 1st 2027, with
a 5-year extension option available through 2032. Generational blue-chip multifamily assets
such as Bainbridge Lofts rarely come to market due to limited supply in the residential
neighborhoods they inhabit. Tangible rental upside exists for new ownership to raise rents via
cosmetic enhancements if desired. This could be done on an unobtrusive basis (unit by unit
rather than full building) so as to not disturb the existing tenant base. Located just outside of
the urban core in a tranquil setting with convenient connections to all of Philly's main arteries
and roadways, Bainbridge Lofts is positioned for sustainable demand for decades to come. Buyer responsible to verify taxes, SF and financials in DD. 48hr notice to tour (tenant occupied).
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Amenities
Garage
Pool
Garden
Security System
Internet
Telephone
Heating
Fireplace
Balcony & Patio
TV / Cable
Laundry
Hardwood Floors
Spa
Air Conditioning
Solar Power
Floor Plan
Great Views
Natural Light
Quiet
Water View
Elevator
Guest Unit(s)
Furnished
220 Volt
Property Details
| List Price | $4,750,000 |
| Property Type | Multi-Family |
| Usable Sqft | Unknown |
| Number of Stories | 3 stories |
| Parking Spots | 0 spots |
| Year Built | 1900 |
| Last Sold | Unknown |
| Sold Price | Unknown |
| APN # | 881571850 |
| MLS # | PAPH2385040 |
| Property ID | 320458084 |
| Lot Sqft | 9,924 |
| Zoning | RM1 |
| Total Units | 13 |
| Days on Market | 175 |
| Original List Price | Unknown |
| Date Updated | January 24, 2025 |
| Date Created | August 08, 2024 |
Financials not available online. Please inquire with your agent for more details.
Listing Provided By
Ryan J McManus an agent of Keller Williams Realty - Ocean City. Lic #RS316262
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Data last updated: January 30, 2025.
Robert Crawford
REAL ESTATE AGENT