63rd Street Portfolio
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63rd Street Portfolio
5 Multifamily Properties Offered at $3,835,632 CAD in Philadelphia, PA
Investment Highlights
- Value-Add Potential: Average rents per unit ($884) are below market potential ($1,343)
- Favorable Unit Mix: 14 One Bedrooms, 12 Two Bedrooms and 1 Studio
- Concentrated Portfolio: 808, 810, 826, 828 and 930 N 63rd Street, Philadelphia PA
- Overbrook Neighborhood: Close Proximity to City Line Ave, Lancaster Ave, & I-76
Executive Summary
Trophy Commercial Real Estate LLC is pleased to present the opportunity to acquire the fee simple interest in the 63rd Street Portfolio. This package of 5 properties offers a unique investment opportunity on the 800 and 900 Blocks of N 63rd street comprising of a total of 27 apartment units and a garage. Other than one studio apartment, the unit mix consists of all 1- and 2-bedroom apartments and has a history of long tenancy. As a result, about 50% of the units have been renovated since the current ownership acquired the buildings in 2015 and presents further upside potential through increasing rents to market rate or convert to PHA rental with minimal renovations. Located in the Overbrook neighborhood, the portfolio benefits from strong suburban neighborhood demand and convenient access to downtown Philadelphia.
Property Facts
| Price | $3,835,632 CAD | Number of Properties | 5 |
| Price / SF | $225.33 CAD / SF | Individually For Sale | 0 |
| Cap Rate | 6.23% | Total Building Size | 17,022 SF |
| Sale Type | Investment | Total Land Area | 0.58 AC |
| Status | Active |
| Price | $3,835,632 CAD |
| Price / SF | $225.33 CAD / SF |
| Cap Rate | 6.23% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 5 |
| Individually For Sale | 0 |
| Total Building Size | 17,022 SF |
| Total Land Area | 0.58 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 826 N 63rd St, Philadelphia, PA 19151 | Multifamily | 3,103 SF | 1925 | - |
| 828 N 63rd St, Philadelphia, PA 19151 | Multifamily | 3,103 SF | 1925 | - |
| 930 N 63rd St, Philadelphia, PA 19151 | Multifamily | 2,890 SF | 1925 | - |
| 810 N 63rd St, Philadelphia, PA 19151 | Multifamily | 3,096 SF | 1915 | - |
| 808 N 63rd St, Philadelphia, PA 19151 | Multifamily | 4,830 SF | 1920 | - |
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63rd Street Portfolio
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