1828 Frankford Ave
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1828 Frankford Ave
9 Unit Apartment Building $6,744,133 CAD ($749,348 CAD/Unit) 5.95% Cap Rate Philadelphia, PA 19125
Investment Highlights
- Turnkey 6.0% Cap with 9 Luxury Apartments & a Triple-Net Retail Lease
- Strong Tenant Appeal with Unique Architecture & High-End Finishes
- Low Operating Costs due to New Construction & 10-Year Tax Abatement
- Main-on-Main, High-Visibility Corner in a Rapidly Growing Submarket
Executive Summary
Select Commercial Advisors is pleased to present the opportunity to acquire a turnkey, fully-stabilized multifamily asset with a 10-year tax abatement in Fishtown, featuring 9 luxury residential units and 1 commercial space located on a prime, high-visibility corner of bustling Frankford Avenue. Acquire this high-quality, low-maintenance, new-construction property designed by Ambit Architecture and built by Grit Construction. Delivered 100% leased, the property offers both steady cash flow and strong future upside driven by the rapidly-developing Fishtown/Northern Liberties submarket. Ownership has secured an attractive triple-net commercial lease on a ten year term with Taylor Chip for the ~1,650 square foot ground floor retail space. As new construction deliveries in this submarket slow down over the next 1-2 years, demand is expected to outpace supply, driving further rental growth in this vibrant and rapidly appreciating neighborhood. This is a unique opportunity for investors to acquire a high-quality, income-producing asset and capitalize on a growing market with significant long-term upside.
Property Facts
Unit Amenities
- Air Conditioning
- Dishwasher
- Washer/Dryer
- Heating
- Eat-in Kitchen
- Granite Countertops
- Hardwood Floors
- Refrigerator
- Stainless Steel Appliances
- Tub/Shower
- Views
- Yard
- Island Kitchen
- Large Bedrooms
Site Amenities
- Courtyard
- Fenced Lot
- On-Site Retail
Unit Mix Information
Description | No. Units | Avg. Rent/Mo | SF |
---|---|---|---|
1+1 | 8 | - | 650 |
2+2 | 1 | - | 1,067 |
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Walk Score ®
Walker's Paradise (92)
Bike Score ®
Very Bikeable (85)
zoning
Zoning Code | CMX2 (Multifamily Mixed-Use Commercial) |
CMX2 (Multifamily Mixed-Use Commercial) |
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1828 Frankford Ave
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