Active

85 E Sharpnack St

Philadelphia PA, 19119

$2,900,000


$227.99 per sqft

Active

12,720 sqft

Commercial

Built in 2022

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.

PAPH2385330

MLS ID

August 9, 2024

Listed

October 2, 2024

Updated

Map

85 E Sharpnack St
Philadelphia PA, 19119

Interior Features

Total Stories

3


Appliances

Electric Water Heater


Fireplace

No


Cooling

No


Heating

Yes


Heating Description

Electric

Exterior/Building Features

Lot Size

0.15 Acres


Roof

Fiberglass


Sewer

Public Sewer

Other Property Details

Area Name

PHILADELPHIA


Taxes

$2,757


Tax Frequency

Annually


Days on Market

47


Garage

No


Parking Total

9


View

Yes


View Description

City


County

PHILADELPHIA


Water Source

Public


Pool

No

Listed by Keller Williams Liberty Place
Listing Contact: 6106061095 

The IDX display contains information sourced from the Bright MLS, Inc. as of 10/2/2024. This data is intended solely for personal, non-commercial use and is not to be utilized for any other purposes except to identify potential properties for purchase. Although the MLS data displayed is typically considered reliable, it is not guaranteed to be accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and are advised to conduct their own investigations or seek professional assistance. Other sources besides the Listing Agent may have contributed to the MLS data presented. Unless expressly specified in writing, the Broker/Agent has not confirmed any information obtained from external sources. The Broker/Agent may or may not have acted as the Listing and/or Selling Agent and cannot guarantee the accuracy of property locations displayed on any map. Any compensation offers are solely made to participants of the MLS where the listing is registered.

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Data last updated on 10/2/2024 at 7:28 AM UTC

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