9 Units (Brewerytown-Francisville, Philadelphia)

Address: 1202 North 24th Street, Philadelphia, Pennsylvania, US

New York & Tri-State + Apartments

Created date: September 5, 2023

Date last updated: September 5, 2023

Turnkey Opportunity: New Construction; Little to No Deferred Maintenance
Proximity to Public Transportation: 3 Blocks to Fairmount Station for Broad Street Subway Line (Ridge Avenue Property)
Rapidly Gentrifying Locations: Francisville/Brewerytown Experiencing Tremendous Development
Access to Major Highways: Direct Access to I-95, I-676 and I-76 as well as Route 1
Abundant Neighborhood Amenities: Steps from Bars, Cafes, Restaurants, and Boutique Shopping

Property Description

This offering consists of two multifamily properties in the rapidly-gentrifying Brewerytown and Francisville neighborhoods of Philadelphia. There are 9 total units boasting luxury finishes including stone countertops, stainless steel appliances, custom cabinetry, in-unit washer/dryer, upgraded fixtures, and private outdoor space in select units. 1202 North 24th Street: Situated in Brewerytown, this property houses 6 units and is 100% occupied. The unit mix consists of (1) 2 bedroom/2 bath unit, (4) 2 bedroom/2.5 bath units, and (1) 3 bedroom/3 bath unit. 1726 Ridge Avenue: Situated in Francisville, this property consists of 3 units and is 100% Occupied. The unit mix consists of (2) 2 bedroom/2 bath units and (1) 2 bedroom/2 bath/2 handicapped bath plus storefront unit. This offering presents the opportunity to acquire two turnkey buildings in quality locations with upside through natural turnover. Originally constructed as for-sale condo products, the properties feature oversized floor plans with ample natural light and bi-level living space in select units.The properties are located minutes from major transportation routes including Route-1, I-95, I-76, and I-676, providing unparalleled access to the Philadelphia MSA. Further, tenants in the Ridge Avenue property are about three blocks from the Fairmount Train Station on the SEPTA Broad Street Subway Line that carries commuters into Center City Philadelphia in under 10 minutes.
*There is assumable debt in place on each property. Details Available in Offering Memorandum or Contact One of the Listing Agents.

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Mark Duszak

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Ken Wellar

(215) 454-2879

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Corey Lonberger

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Alan Krawitz

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Kyle McShane

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Isela Lares

Key Property Information

Listing Status:	Unavailable
Listing Type:	Call for offers
Price:	$3,200,000
No. of Units:	9
Year Built:	2019
Lot Size:	16,420.00 Acres
Opportunity Zone:	No
Price per unit:	$355,556
Property Website	Click Here