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1837-41 N Gratz Street

PHILADELPHIA, PA 19121
  • $2,150,000
  • STATUS: Active Under Contract
  • ON SITE: 122 Days
  • ID#: PAPH2014580
Under Contract
UPDATED: 36 min ago
$2,150,000
  • 0
    BEDS
  • 0.09
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 8,400
    SQFT
  • $256
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
2021
County:

School Ratings & Info

Description

Brand new 8-unit loft apartment building located in the surging 19121 zip code. Gratz Lofts is just off main campus at Temple University, a locally esteemed higher learning institution and athletic powerhouse. These loft apartments are entirely unique and have fully leased up for the first year of occupancy / fall semester 2021. Luxury interiors with exposed beams, huge ceilings, quartz counters, stainless appliances, skylights, oversized windows. Major curb appeal with a stately redbrick facade. Big rental upside opportunity for the new owner to raise Year 2+ rents as university life resumes normalcy. Turnkey multifamily asset. Ideal for 1031 exchange. The Property yields an attractive 6.9% pro forma cap rate w/ a full 10 year tax abatement.

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©2021 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: 2021-11-26T23:50:04.587.
www.lisasellsdelaware.com/homes/119748627
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1837-41 N Gratz Street PHILADELPHIA, PA 19121

  • Price: $2,150,000
  • Status: Active Under Contract
  • On Site: 122 Days
  • Updated: 36 min ago
  • ID#: PAPH2014580
0
Beds
0
Baths
0
½ Baths
0.09
Acres
8,400
SQFT
$256
$/SQFT
2021
Built
Neighborhood:
Temple University
County:
Philadelphia
Area:
19121 (19121)
School District:
The School District Of Philadelphia
Property Description
Brand new 8-unit loft apartment building located in the surging 19121 zip code. Gratz Lofts is just off main campus at Temple University, a locally esteemed higher learning institution and athletic powerhouse. These loft apartments are entirely unique and have fully leased up for the first year of occupancy / fall semester 2021. Luxury interiors with exposed beams, huge ceilings, quartz counters, stainless appliances, skylights, oversized windows. Major curb appeal with a stately redbrick facade. Big rental upside opportunity for the new owner to raise Year 2+ rents as university life resumes normalcy. Turnkey multifamily asset. Ideal for 1031 exchange. The Property yields an attractive 6.9% pro forma cap rate w/ a full 10 year tax abatement.
Exterior Features

Architectural Style LoftLoft With Bedrooms Construction Materials MasonryBrick Garage YN No Location Type Urban Other Structures Above GradeBelow Grade Parking Types None Pool No Pool Property Condition Excellent Riparian Rights YN No Roof PitchedRubber View City Water Access YN No Water Oriented YN No Water View YN No Waterfront YN No

Interior Features

Above Grade Fin SQFT 8400 Below Grade Finished Area 0 Below Grade Unfinished Area 0 Cooling Central A/C Fireplaces Total 0 Flooring Vinyl Heating Central Heating YN Yes Security Features Exterior CamerasIntercom Single Room Units 0 Three Bedroom Units 4 Two Bedroom Units 3

Property Features

Accessibility Features None Assessment Year 2021 Association YN No Central Air YN Yes Construction Completed YN Yes Cooling Fuel Natural Gas Cross Street Berks Heating Fuel Natural Gas Historic YN No Hot Water Natural Gas Municipality Philadelphia Navigable Water YN N Net Operating Income 135853.00 New Construction YN Yes Number Of Units Leased 8 Number Of Units Total 4 Original MLSNumber 800896343414 Ownership Interest Fee Simple Possession Immediate Property Sub Type Other Rent Control YN No Sale Type Standard Sewer Public Sewer Structure Design Type Interior Row/Townhouse Tax Annual Amount 13164.00 Tax Assessment Amount 940450.00 Tax Lot 148 Total Actual Rent 167580.00 Vacation Rental YN No Water Source Public Zoning Rm1

Listing courtesy of Compass Pennsylvania, Llc.


©2021 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: 2021-11-26T23:50:04.587.
 
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