710-16 S American Street

Description

Introducing "Bainbridge Lofts" at 710-16 South American Street: a turnkey, stabilized loftapartment building located in the coveted Queen Village submarket of Philadelphia,Pennsylvania. With 13 units and 30 parking spaces in a private, secure garage, BainbridgeLofts provides residents with the ultimate urban lifestyle rooted in convenience and character.With exposed brick and beam throughout the property, tenants feel instantly at home, tuckedaway on a quiet, extremely well-maintained street (the property runs from South 3rd Street toAmerican Street) in a location that's walkable to many of the city's top restaurants, cafes,parks and shops. Hardwood floors, stainless steel appliances, quartz countertops, spiralstaircases, shaker cabinetry and exposed ductwork lend additional interior appeal, while theredbrick facade provides immediate curb appeal. Assumable financing is in place (subject tolender approval) with a highly-attractive 4.85% interest rate through November 1st 2027, witha 5-year extension option available through 2032. Generational blue-chip multifamily assetssuch as Bainbridge Lofts rarely come to market due to limited supply in the residentialneighborhoods they inhabit. Tangible rental upside exists for new ownership to raise rents viacosmetic enhancements if desired. This could be done on an unobtrusive basis (unit by unitrather than full building) so as to not disturb the existing tenant base. Located just outside ofthe urban core in a tranquil setting with convenient connections to all of Philly's main arteriesand roadways, Bainbridge Lofts is positioned for sustainable demand for decades to come. Buyer responsible to verify taxes, SF and financials in DD. 48hr notice to tour (tenant occupied).