• 18 Units
• Unknown Sq Ft
• 6,756 Sq Ft
• Unknown Cap Rate

Description

A fantastic opportunity to acquire this newly renovated apartment building.
Centered in and around the burgeoning Cobbs Creek neighborhood in West Philadelphia.
In a tight geographic area ideal for management and enhanced economies of scale. In a red-hot neighborhood with some under-valued rents and significant capital appreciation opportunity.
Professionally managed package (property manager can remain, at buyer's option).
An advantageous investment opportunity in a rapidly improving West Philadelphia neighborhood, close to all amenities, public transportation, "the El" Market-Frankford Line, and the Cobb Creek Trail, just minutes away. Other developments include a $65 million commitment by the city of Philadelphia, The Cobbs Creek Foundation, and The TGR Foundation (founded by Tiger Woods) to revamp the existing golf course (Philadelphia's oldest course), enhance the public space, and create an educational campus for local youth. The Cobbs Creek Environmental Center has also planned significant improvements.

The building consists of 18 Apartments: "2"x 2-bedrooms, "16" x 1-bedroom apartments.
All Apartments are newly renovated and have newer kitchens, baths, ceiling fans, 100 Amp. Electric Service, Hook-ups for Washer/ Dryers (some Micro Waves & Washer/Dryers are already installed. All utilities are separate, except water; 24-hour video monitoring and WiFi. Each Unit has 3 PTACs, some have more. Package Terminal Air-Conditioners. They provide Central Heat & Air-Conditioning Power by electricity, paid by each residence. Each residence can set their units to their comfort zone, hot or cold.
Lobby entrance has a keyless call box that allows family and deliveries entry without leaving your unit, with a touch of your cell phone. Basement is full-sized, offering plenty of storage space with an office and a bathroom.