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    FOR SALE
    Apartment buildings

    85 East Sharpnack St Philadelphia, PA 19119

    12,720 SF Built 2022
    Property ID
    US73-0039764
    85 East Sharpnack St, Philadelphia, PA 19119 For Sale 1 / 47
    $2,450,000 12,720 SF
    85 East Sharpnack St, Philadelphia, PA 19119
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    AI-generated overview

    INTRODUCING: 85 EAST — This 9-unit gated new construction apartment community with parking is set back peacefully off the quaint cobbles of Germantown Avenue in Philadelphia’s historic Mount Airy neighborhood in NW PHL. It is a turnkey investment opportunity with an attractive 6% cap rate. Comprising 3 contiguous triplex buildings, 85 East features private parking and panoramic rooftop terraces for residents. Each building features two (2) 2bd x 1ba units on the 1st/2nd floors and one (1) 3bd x 2ba unit on the 3rd floor, with private access to the rooftop terrace. The interiors are outfitted with high-end finish kits including quartz countertops, LVP flooring, stainless-steel appliance packages, designer lighting and more. Bright, spacious and airy interiors provide a serene sense of calm inside the buildings. Walkable to Germantown Avenue’s commercial corridor lined with boutiques, shops, breweries, restaurants, cafes and historic structures, 85 East is connected to the fabric of Mount Airy’s eclectic lifestyle. 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. 10 Year Tax Abatement—pay taxes on assessed land value rather than improvements. Minimal expenditures. High-growth rental submarket. County: PHILADELPHIA MLS Area: 19119 (19119) School District Name: THE SCHOOL DISTRICT OF PHILADELPHIA SchoolDistrictSource: Listing Agent School District County ID: 300200397108

    Property profile
    Verified
    Property type Apartment buildings
    Year built 2022
    Total area 12,720 SF
    UPID US73-0039764
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Current use
    Occupant on record · Public records
    • Stay Tuned Ent Corporate Office
    1 occupant on record
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