85 E SHARPNACK ST Active Save Request In-Person Tour Request Virtual Tour
Philadelphia,PA 19119
Key Details
Property Type Commercial
Sub Type Five Or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 12,720 sqft
Price per Sqft $227
Subdivision Mt Airy
MLS Listing ID PAPH2385330
Year Built 2022
Annual Tax Amount $2,757
Tax Year 2024
Lot Size 6,750 Sqft
Property Description
INTRODUCING: 85 EAST ? This 9-unit gated new construction apartment community with parking is set back peacefully off the quaint cobbles of Germantown Avenue in Philadelphia?s historic Mount Airy neighborhood in NW PHL. It is a turnkey investment opportunity with an attractive 6% cap rate. Comprising 3 contiguous triplex buildings, 85 East features private parking and panoramic rooftop terraces for residents. Each building features two (2) 2bd x 1ba units on the 1st/2nd floors and one (1) 3bd x 2ba unit on the 3rd floor, with private access to the rooftop terrace. The interiors are outfitted with high-end finish kits including quartz countertops, LVP flooring, stainless-steel appliance packages, designer lighting and more. Bright, spacious and airy interiors provide a serene sense of calm inside the buildings. Walkable to Germantown Avenue?s commercial corridor lined with boutiques, shops, breweries, restaurants, cafes and historic structures, 85 East is connected to the fabric of Mount Airy?s eclectic lifestyle. Easy access into Center City and University City by train (3 minutes to Carpenter Station on Chestnut Hill West Septa line) or car (25 minutes to Center City), as well as suburban employment and entertainment districts. Walkable nearby amenities include: Mount Airy Tap Room, Acme, Lovett Memorial Library, Wawa, McMenamin?s, Jansen, Johnson House Historic Site, Weaver?s Way Co-op, Grocery Outlet, Young American Hard Cider and Tasting Room ? as well as Wissahickon Valley Park, Chestnut Hill and Historic Germantown. 10 Year Tax Abatement?pay taxes on assessed land value rather than improvements. Minimal expenditures. High-growth rental submarket. BUYER TO VERIFY TAXES, SF, FINANCIALS IN DD.
Location
State PA
County Philadelphia
Area 19119 (19119)
Zoning RSA5
Interior
Hot Water Electric
Heating Wall Unit
Cooling Ductless/Mini-Split
Flooring Luxury Vinyl Plank
Exterior
Garage Spaces 9.0
Waterfront N
Water Access N
View Panoramic,Scenic Vista,City
Roof Type Fiberglass
Building
Lot Description Flag
Foundation Concrete Perimeter
Sewer Public Sewer
Water Public
New Construction Y
Schools
School District The School District Of Philadelphia
Others
Special Listing Condition Standard