204 W George St

Estimated Monthly Payment: $48,174/mo 204 W George St, Philadelphia, PA 19123 MLS# 1002135872 Commercial Sale Listing Status: ACTIVE
19
40
0
10

REMARKS:

This is an opportunity to acquire a rarely offered portfolio of eighteen (18) 3-story spacious townhomes with 4bd/2.5ba, highly coveted garage parking, and impressive skyline city view roofdecks. The portfolio is located on the best blocks in the desirable Philadelphia submarket of Northern Liberties. Light cosmetic improvements will drastically improve the properties, allowing them to be repositioned as individual "for sale" townhomes to be sold to retail homebuyers in a Philadelphia market critically under-supplied with quality "for sale" housing. Homebuyer demand has far exceeded the availability of homes in Philadelphia, which has created a true owner's market and a highly competitive market, especially over the last 36 months. Northern Liberties is perennially a leader in residential sales citywide and is widely known for having some of the most innovative new developments and architectural styles in the Greater Philadelphia region. With an average in-place rent of 2,851/unit (1.35/PSF), the properties are also positioned near-term for strong rent growth. And alternatively, the portfolio can be acquired simply as an income-producing investment package, as the properties are currently fully-leased and low maintenance. Traditionally, the homes were marketed as 3bd units; moving forward, the fully-finished lower level living space can be considered a fourth bedroom for both sale/rental purposes allowing the new owner to capture additional sales proceeds/rental income if marketed for sale/lease on a "bedroom count" basis. 16 of 18 of the properties are zoned CMX3 which in Philadelphia is the most coveted zoning designation available ? making this portfolio an even further "value-add" opportunity for increased density, as the properties were not originally built to max density. And the properties are located within a 7-minute walk to the SEPTA Market-Frankford El station connecting to downtown Philadelphia, making this a "transit-oriented" portfolio. The townhomes h

OVERVIEW:

Commercial Sale
ACTIVE
TREND
Northern Liberties
2010
0.37
16265
Public
Public Sewer

FEATURES:

Tile/Brick, Vinyl

FINANCIAL:

10530000
1860
1860

Broker Reciprocity Courtesy of BHHS Fox & Roach-Center City Walnut

 

All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor Elfant Wissahickon Realtors shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.

 

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