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85 East Sharpnack Street Philadelphia, PA 19119

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For Sale
$2,450,000

9-unit apartment community in Philadelphia's Mount Airy neighborhood.

Type:Multi-Family / Fee Simple
Property size:
12,720 SF
Added:
Sep 18, 2024
Days on Market:
576
Last Refresh:
Mar 13 at 10:18 am

Property Features for 85 East Sharpnack Street

General Information

Standard status
Active
Size
12,720 SF
Property subtype
Multi-Family / Fee Simple

Building Details

Year Built
2022

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Listing Contact
Ryan J McManus

Listing agent Ryan J McManus License #RS316262

Listing office Keller Williams Liberty Place

Listing date Sep 18, 2024

Source Compass

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Liberty Place


Overview

New Construction Apartment Community

This 9-unit gated apartment community is new construction with parking, set back off Germantown Avenue in Philadelphia’s Mount Airy neighborhood. It is a turnkey investment opportunity with an attractive 6% cap rate. The property comprises 3 contiguous triplex buildings and features private parking and panoramic rooftop terraces for residents. Each building contains two 2-bedroom, 1-bathroom units on the first and second floors, and one 3-bedroom, 2-bathroom unit on the third floor with private access to the rooftop terrace. The interiors are outfitted with high-end finish kits including quartz countertops, LVP flooring, and stainless-steel appliance packages. The interiors are bright, spacious and airy. The property is walkable to Germantown Avenue’s commercial corridor with boutiques, shops, breweries, restaurants, cafes and historic structures. It has easy access into Center City and University City by train (3 minutes to Carpenter Station on Chestnut Hill West Septa line) or car (25 minutes to Center City), as well as suburban employment and entertainment districts. Walkable nearby amenities include Mount Airy Tap Room, Acme, Lovett Memorial Library, Wawa, McMenamin’s, Jansen, Johnson House Historic Site, Weaver’s Way Co-op, Grocery Outlet, Young American Hard Cider and Tasting Room, as well as Wissahickon Valley Park, Chestnut Hill and Historic Germantown. The property has a 10-year tax abatement, requiring taxes to be paid on the assessed land value rather than improvements. The property size is 12,720 square feet and is located in the 19119 MLS area.
Location Intelligence

Current Use by Public Records

Stay Tuned Ent Corporate Office

Suggested Use

Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

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City
Philadelphia
County
Delaware
State
Pennsylvania
Longitude
-75.1864911
Latitude
40.0475954

FAQs

What type of property is this?
Apartment building - 9-unit apartment community in Philadelphia's Mount Airy neighborhood.
Where is this apartment building located?
The property is located at 85 East Sharpnack Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $2,450,000.
What are key features of this property?
This property features: Turnkey 9‑unit new construction apartment community with **panoramic rooftop terraces** and private parking.; Attractive 6% cap rate and minimal expenditures, ideal for investment.; 10‑year tax abatement, significantly reducing property taxes.
More about this property
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