New Multifamily Property in
For Sale
$9,199,999
3503 Midvale Ave, Philadelphia, PA 19129
Boutique 34-unit multifamily property in East Falls, Philadelphia.
Property Size30,000 SF
Price / SF$306.67
Days on Market690
Property Features for 3503 Midvale Ave
General Information
Standard status
Active
Size
30,000 SF
Property subtype
Commercial
Site & Location
Neighborhood
Allegheny West
Building Details
Year Built
2024
Listing Agency:
Keller Williams Liberty Place
Listed By:
Ryan J McManus · License #RS316262
(610) 606-1095
Source:
Searchhomesinbuckscounty
Added: Dec 3, 2024
Changed: Oct 1
Last Checked: Oct 23 at 7:07AM
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
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Investment Insights
Based on property information with market context.
The Grace Apartments, a new construction multifamily property with approximately 30,000 square feet, is located in the East Falls neighborhood of Philadelphia, Pennsylvania. This 5-story building features 34 units, including studios, one-bedroom, and two-bedroom apartments, as well as commercial space. Residents have access to a fully furnished fitness center and a panoramic rooftop terrace. The property is situated on Midvale Avenue, near shops, restaurants, cafes, and amenities in East Falls, as well as Main Street Manayunk and the Schuylkill River Trail. It is also conveniently located near Septa’s regional rail station, Jefferson University, Wissahickon Valley Park, and Bala Cynwyd shopping and office districts. The property benefits from a 10-year tax abatement.
Key Highlights
- New construction (2024) boutique apartment building in East Falls, Philadelphia.
- Full 10‑year tax abatement.
- 7.15% CAP rate turnkey asset.**
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$471,885
Cap Rate
5.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$9,437,700
$9.4M
Cap Rate 7%
$6,741,214
$6.7M
Cap Rate 9%
$5,243,167
$5.2M
Market Conditions
NOI Build-Up for 30,000 SF
Gross rent
$910.8K $30.36/SF
− Vacancy
−$52.8K −$1.76/SF
EGI
$858.0K $28.60/SF
− OpEx
−$386.1K −$12.87/SF
NOI
$471.9K $15.73/SF
Area
Philadelphia, PA
Vacancy
5.80%
Lease Rate
$30.36 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$9,437,700
Cap Rate 7%
$6,741,214
Cap Rate 9%
$5,243,167
Alternative Uses
Best Use
Apartment 5plus
$6.74M
$5.90M – $7.86M
NOI $471,885 @ 7.0% cap · market cap 5.13%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$7.31M
$6.40M – $8.53M
NOI $511,947 @ 7.0% cap · market cap 5.56%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Location Intelligence
Trade Area within ½ mile
822
Businesses Nearby
Explore this area
Business Placement
Demographics for 19129, PA
11,437
Population
6,228
Households
1.8
Avg Household Size
35
Median Age
60%
College-Educated
96%
High-School Grad
2.1 sq mi
ZIP Area
5,446
Density / Sq Mi
$77,225
Median Household Income
$58,576
Median Earnings
$1,471
Median Rent
$297,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Boutique 34-unit multifamily property in East Falls, Philadelphia.
Where is this apartment building located?
The property is located at 3503 Midvale Ave Philadelphia, PA.
What is the asking price?
The asking price for this property is $9,199,999.
What are key features of this property?
This property features: New construction (2024) boutique apartment building in East Falls, Philadelphia.; Full 10‑year tax abatement.; 7.15% CAP rate turnkey asset.**
