$1,925,000
$2,150,000
10.5%For more information regarding the value of a property, please contact us for a free consultation.
8,400 SqFt
SOLD DATE : 01/31/2022
Key Details
Sold Price $1,925,000
Property Type Commercial
Sub Type Five Or More Units
Listing Status Sold
Purchase Type For Sale
Square Footage 8,400 sqft
Price per Sqft $229
Subdivision Temple University
MLS Listing ID PAPH2014694
Sold Date 01/31/22
HOA Y/N N
Originating Board BRIGHT
Year Built 2021
Annual Tax Amount $13,164
Tax Year 2021
Lot Size 3,814 Sqft
Acres 0.09
Lot Dimensions 49.00 x 77.83
Property Description
Brand new 8-unit loft apartment building located in the surging 19121 zip code. Gratz Lofts is just off main campus at Temple University, a locally esteemed higher learning institution and athletic powerhouse. These loft apartments are entirely unique and have fully leased up for the first year of occupancy / fall semester 2021. Luxury interiors with exposed beams, huge ceilings, quartz counters, stainless appliances, skylights, oversized windows. Major curb appeal with a stately redbrick facade. Big rental upside opportunity for the new owner to raise Year 2+ rents as university life resumes normalcy. Turnkey multifamily asset. Ideal for 1031 exchange. The Property yields an attractive 6.9% pro forma cap rate w/ a full 10 year tax abatement.
Location
State PA
County Philadelphia
Area 19121 (19121)
Zoning RM1
Interior
Hot Water Natural Gas
Heating Central
Cooling Central A/C
Heat Source Natural Gas
Exterior
Water Access N
View City
Accessibility None
Garage N
Building
Sewer Public Sewer
Water Public
New Construction Y
Schools
School District The School District Of Philadelphia
Others
Tax ID 881146611
Ownership Fee Simple
SqFt Source Assessor
Security Features Intercom,Exterior Cameras
Special Listing Condition Standard
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Bought with Steven Osiecki • RE/MAX Access