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1711 W Montgomery Ave Philadelphia, PA 19121

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83 units, 284 beds, significant discount, below market rents.

Property Features for 1711 W Montgomery Ave

General Information

Standard status
Active

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Listing Contact
Adam Gillespie
Adam Gillespie
Source: Crexi

Listing Agency: Avison Young - Suburban Philadelphia Listing Agent: Adam Gillespie

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Overview

Philadelphia Family Housing Portfolio Opportunity

The Philadelphia Family Housing Portfolio offers an opportunity to acquire 83 units, totaling 284 beds, across 28 separate addresses in Philadelphia, PA. The properties include one- to seven-bedroom units, all located within a five-minute walk of each other. The current owner has invested approximately $1,500,000 in property improvements and repairs, including new roofs, mechanical systems, portfolio-wide electronic access keypads, and unit renovations. No near-term capital improvements are anticipated. The unit mix and infill location provide optionality for investors. The portfolio is currently leased primarily to students; however, Section 8 rental rates exceed in-place rents significantly, with stronger market demand for Section 8 renters seeking larger units with convenient access to public transportation. Each unit features hardwood flooring, granite countertops, stainless steel appliances, contemporary cabinetry, and in-unit washers and dryers. The portfolio offers an opportunity to acquire scale at a discount to replacement cost, with in-place rents significantly below market for affordable housing in the area.
Location Intelligence

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Apartment buildings

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Location Insight

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City
Philadelphia
County
Delaware
State
Pennsylvania
Longitude
-75.1627563
Latitude
39.981083

FAQs

What type of property is this?
Apartment building - 83 units, 284 beds, significant discount, below market rents.
Where is this apartment building located?
The property is located at 1711 W Montgomery Ave Philadelphia, PA.
What are key features of this property?
This property features: - Significant discount to replacement cost with in-place rents below market for affordable housing.; - $1,500,000 invested in recent property improvements and repairs, including new roofs, mechanical systems, electronic access keypads, and unit renovations; no near-term capital improvements anticipated.; - Portfolio of 83 units (284 beds) across 28 separate addresses, offering meaningful scale.
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