1100 Godfrey Ave Philadelphia, PA 19141-3351
- Apartment buildings
- 45,520 SF
- 2.33 lot acres
Current Use by Public Records
- Academia Suites Apartments / Apartment Building / Apartment Complex
- Lindy Properties / Property Management Company
Property Details for 1100 Godfrey Ave
- Year built
- 1965
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 2.33 lot acres
- Property size
- 45,520 SF
- Zone code
- RM1
- Property type
- Apartment buildings
- APN
- 88-1-1509-20
- APU
- 881150920
Description
This exceptional investment opportunity presents a 111-unit apartment building in Philadelphia's East Oak Lane neighborhood, boasting a compelling 7.00% pro-forma cap rate and an asking price of $13,500,000. The property, comprised of two four-story buildings totaling 45,520 square feet on a 101,500 square foot lot, features 111 units averaging $121,622 per unit. Built in 1965, the property has undergone significant renovations, including a complete overhaul of Building #1101's kitchens, HVAC, windows, and floors in 2010, with the top floor renovated within the last 6-7 years. Further improvements within the last 10 years include solar panel installation across both buildings, new individual heating and cooling units in Building #1100, a new fitness center, and a common laundry room. The property is zoned RM-1 and benefits from its strategic location near Routes 1 and 611, providing easy access to public transportation via the Rock Transportation Center. The East Oak Lane neighborhood offers historical charm, green spaces, and active community associations. This well-maintained property presents a strong investment opportunity with potential for significant rental increases
Value Estimations
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Philadelphia
- County
- Philadelphia
- State
- Pennsylvania
- Longitude
- -75.1385
- Latitude
- 40.046
- CBSA code
- 37980
- CBSA name
- PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD METROPOLITAN STATISTICAL AREA
