Active
85 E Sharpnack St
Philadelphia PA, 19119
$2,900,000
$227.99 per sqft
Active
12,720 sqft
Commercial
Built in 2022
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. BUYER TO VERIFY TAXES, SF, FINANCIALS IN DD.
PAPH2385330
MLSⓇ ID
August 9, 2024
Listed
October 2, 2024
Updated
Map
85 E Sharpnack St
Philadelphia PA, 19119
Interior Features
Total Stories
3
Appliances
Electric Water Heater
Fireplace
No
Cooling
No
Heating
Yes
Heating Description
Electric
Exterior/Building Features
Lot Size
0.15 Acres
Roof
Fiberglass
Sewer
Public Sewer
Other Property Details
Area Name
PHILADELPHIA
Taxes
$2,757
Tax Frequency
Annually
Days on Market
47
Garage
No
Parking Total
9
View
Yes
View Description
City
County
PHILADELPHIA
Water Source
Public
Pool
No
Listed by Keller Williams Liberty Place
Listing Contact: 6106061095
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Data last updated on 10/2/2024 at 7:28 AM UTC