Squirrel Hill Apartments 1014 S 48th St 11 Unit Apartment Building $2,133,900 CAD ($193,991 CAD/Unit) 6.70% Cap Rate Philadelphia, PA 19143

Squirrel Hill Apartments is comprised of 11 apartment units in the Squirrel Hill neighborhood of Philadelphia. The Asset presents new ownership with a significant value-add opportunity to increase rents by executing a renovation plan in the units and common areas aimed at achieving a sizable rental premium. The Property lags far behind the competitive set providing capital with supportable upside potential upon acquisition.
The Squirrel Hill neighborhood is a highly desirable portion of West Philadelphia. The tree-lined streets and Victorian homes give off a suburban feel. The Property is blocks from popular expansive green spaces such as Clark Park and The Woodlands. The Squirrel Hill Apartments is within walking distance of Baltimore Avenue, a thriving retail corridor filled with coffee shops, restaurants, and shopping. The Property attracts a highly educated tenant base that wants to be strategically located near the University of Pennsylvania, Drexel University, Penn Medicine, and Children's Hospital of Philadelphia.
Squirrel Hill Apartments is minutes from major transportation routes such as I-95, I-76, and I-676, presenting unparalleled access throughout the Philadelphia MSA. Future tenants are a 3-minute walk to the 49th Street Station on the SEPTA Media-Wawa Line carrying commuters into Center City, 30th Street Station, and the Philadelphia Suburbs.