Description
Behold: The ICELANDIC +GG a best-in-class, 8-unit boutique apartment building in the booming Brewerytown submarket of Philadelphia, Pennsylvania. Designed by renowned architecture firm BRIGHT COMMON and developed by leading city developer ARGO PROPERTY GROUP, this stabilized investment property boasts massive curb appeal with its striking cobalt facade. Each unit is spatially maximized to provide idyllic living conditions for its occupants. The building includes energy efficient apartments, private balconies, bi-level floorplans, bike and tenant storage, and plenty of square footage per unit. One 1bd, three 3bd, and four 2bd apartments for a total of 8 (eight) units under one roof. There is approximately 20% rental upside based on comparable rents on the block and in the submarket. This is an area poised for tremendous rent growth and asset appreciation. Numerous investment sales comps on the block (enquire within) already completed by Argo PG. Additionally, 1327 Marston (aka Milk Depot Apartments) is also available right across the street, to provide an extra 17-units of critical mass for the savvy investor. 10 year tax abatement remains in effect. Minimal OPEX. Turnkey multifamily investment.
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0BEDS
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0.07ACRES
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0BATHS
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01/2 BATHS
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8,916SQFT
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$244$/SQFT
Description
Behold: The ICELANDIC +GG a best-in-class, 8-unit boutique apartment building in the booming Brewerytown submarket of Philadelphia, Pennsylvania. Designed by renowned architecture firm BRIGHT COMMON and developed by leading city developer ARGO PROPERTY GROUP, this stabilized investment property boasts massive curb appeal with its striking cobalt facade. Each unit is spatially maximized to provide idyllic living conditions for its occupants. The building includes energy efficient apartments, private balconies, bi-level floorplans, bike and tenant storage, and plenty of square footage per unit. One 1bd, three 3bd, and four 2bd apartments for a total of 8 (eight) units under one roof. There is approximately 20% rental upside based on comparable rents on the block and in the submarket. This is an area poised for tremendous rent growth and asset appreciation. Numerous investment sales comps on the block (enquire within) already completed by Argo PG. Additionally, 1327 Marston (aka Milk Depot Apartments) is also available right across the street, to provide an extra 17-units of critical mass for the savvy investor. 10 year tax abatement remains in effect. Minimal OPEX. Turnkey multifamily investment.
©2023 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or The Lisa Mathena Group. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2023-06-09T11:56:13.61.