USAPAPhiladelphiaUniversity City405 S 42Nd St
APT-3A - 405 S 42 Nd St, Home with 0 bedrooms, 0 bathrooms and null parking in PHILADELPHIA PA | Image 1
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$3,450,000

Apt-3A - 405 S 42 Nd St, Philadelphia, PA

Real Estate

For Sale

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  • Key Facts
  • Description
  • Map

Key Facts

Type Multi Family
Levels Commercial Sale
Size -
Garage No
Maintenance Fees 
Taxes $17,554
Days Active 18
Approx. Age 1900
MLS® Number PAPH2509534

Property Address: 

Average square foot calculated using Size range provided by listing agent.

Description

On behalf of Ownership, GREA extends to qualified investors the opportunity to acquire the fee simple interest in 405 and 407 South 42nd Street situated in the Spruce Hill neighborhood of West Philadelphia (the “Property” or “Asset”). The Asset boasts an attractive unit mix in a prime area that has become more affluent as the University of Pennsylvania and Children's Hospital of Philadelphia have focused on expanding their footprint in University City Philadelphia. The Property is comprised of two buildings containing a total of 14 apartments with a mix of 29% one-bedroom/one-bath units, 7% two-bedroom/one-bath units, and 64% two-bedroom/two-bath units. This offering presents new ownership with a significant opportunity to own a newly renovated product at an attractive basis below replacement cost. The Property is positioned to offer high-quality, premium finishes at a reduced rent compared to new construction assets. Occupancy at these assets will remain high due to renter demand, the quality of the units, and an ed’s and med’s tenant base due to the property’s proximity to the University of Pennsylvania, Drexel University, Penn Medicine, CHOP, and the UCity Science Center. The Asset is located minutes from major highway routes such as I-95, I-76 (the Schuylkill Expressway, and I-676, presenting unparalleled access throughout the Philadelphia MSA. Further, tenants are a short walk from the SEPTA Green Line Trolley transporting commuters directly into Center City Philadelphia. 405 and 407 South 42nd Street is well positioned to service a growing tenant base looking for affordable luxury units in a market attracting Ed’s and Med’s to some of the finest learning institutions in the country.Show Description
MLS® NumberPAPH2509534
Locker
Ensuite LaundryNo
Balcony
Furnished
Laundry Level
Exposure
Exterior
GarageNo
Approx. Age1900
Stories
Pets
Corp Number

Included in Maintenance Fee

Heat
Hydro
Water
Building Insurance
Condo Taxes
Cable TV
Central Air
Parking Maintenance

Utilities

HeatCentral, Electric
A/CCentral A/C, Electric
Heating Fuel

Extras

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