Skip To Content

1335-37 N Marston Street

PHILADELPHIA, PA 19121
  • $2,650,000
  • STATUS: Pending
  • ON SITE: 90 Days
  • ID#: PAPH2027458
Pending
UPDATED: 214 min ago
$2,650,000
  • 0
    BEDS
  • 0.08
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 11,571
    SQFT
  • $229
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
2018
County:

School Ratings & Info

Description

Introducing Penny Arcade Apartments, a best in class boutique multifamily investment property in Philadelphia's booming Brewerytown neighborhood by Fairmount Park. Each newly constructed spacious apartment features luxury design and contemporary features such as waterfall edge quartz, subway tile backsplash, floating vanities, wide plank flooring, oversized windows, high ceilings, neutral palettes, upgraded appliances and more. Elevator, rooftop terrace with panoramic skyline views, basement storage included. Two units per floor in an optimally planned property that could easily be converted to luxury condos. The average unit size is over 1000 SF per apartment, a rarity in today's multifamily market. Six (6) 2 bedrooms and two (2) 3 bedrooms. 5.6% cap rate with a 6.2% pro forma cap rate based on market rate rents. Big rental upside for new owner. 10 year tax abatement (through 2029). This is the first in a collection of newly developed amenitized properties to be offered on the block, allowing investors the opportunity to purchase and maintain a critical mass of primely located luxury apartment buildings in one of Philly's fastest growing locations. Easy access into downtown Philly, University City, Fairmount Park and more. Walkable to bars, restaurants, breweries, cafes and shops along the Girard Avenue retail corridor.

Monthly Payment Calculator



©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 LoCoMusings | Century 21 Redwood Realty. 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: 2021-12-06T23:50:09.143.
www.locomusings.com/homes/121179387
Print Image

1335-37 N Marston Street PHILADELPHIA, PA 19121

  • Price: $2,650,000
  • Status: Pending
  • On Site: 90 Days
  • Updated: 214 min ago
  • ID#: PAPH2027458
0
Beds
0
Baths
0
½ Baths
0.08
Acres
11,571
SQFT
$229
$/SQFT
2018
Built
Neighborhood:
Brewerytown
County:
Philadelphia
Area:
19121 (19121)
School District:
The School District Of Philadelphia
Property Description
Introducing Penny Arcade Apartments, a best in class boutique multifamily investment property in Philadelphia's booming Brewerytown neighborhood by Fairmount Park. Each newly constructed spacious apartment features luxury design and contemporary features such as waterfall edge quartz, subway tile backsplash, floating vanities, wide plank flooring, oversized windows, high ceilings, neutral palettes, upgraded appliances and more. Elevator, rooftop terrace with panoramic skyline views, basement storage included. Two units per floor in an optimally planned property that could easily be converted to luxury condos. The average unit size is over 1000 SF per apartment, a rarity in today's multifamily market. Six (6) 2 bedrooms and two (2) 3 bedrooms. 5.6% cap rate with a 6.2% pro forma cap rate based on market rate rents. Big rental upside for new owner. 10 year tax abatement (through 2029). This is the first in a collection of newly developed amenitized properties to be offered on the block, allowing investors the opportunity to purchase and maintain a critical mass of primely located luxury apartment buildings in one of Philly's fastest growing locations. Easy access into downtown Philly, University City, Fairmount Park and more. Walkable to bars, restaurants, breweries, cafes and shops along the Girard Avenue retail corridor.
Exterior Features

Architectural Style Contemporary Construction Materials Masonry Garage YN No Location Type Urban Other Structures Above Grade Parking Types None Pool No Pool Property Condition Excellent Riparian Rights YN No View City Water Access YN No Water Oriented YN No Water View YN No Waterfront YN No

Interior Features

Above Grade Fin SQFT 11571 Cooling Central A/C Heating Central Heating YN Yes Single Room Units 0 Three Bedroom Units 2 Two Bedroom Units 6

Property Features

Accessibility Features Elevator Assessment Year 2021 Central Air YN Yes Construction Completed YN Yes Cooling Fuel Natural Gas Elevators 1 Existing Lease Type Yearly Foundation Details Block Heating Fuel Natural Gas Hot Water Natural Gas Municipality Philadelphia Navigable Water YN N Net Operating Income 149000.00 New Construction YN Yes Number Of Units Leased 8 Number Of Units Total 4 Original MLSNumber 801014754872 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 1792.00 Tax Assessment Amount 128000.00 Tax Lot 195 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 LoCoMusings | Century 21 Redwood Realty. 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: 2021-12-06T23:50:09.143.
 
https://bt-photos.global.ssl.fastly.net/brightmls/1280_boomver_3_801014754872-2.jpg https://bt-photos.global.ssl.fastly.net/brightmls/1280_boomver_3_801014754872-2.jpg https://bt-photos.global.ssl.fastly.net/brightmls/1280_boomver_3_801014754872-2.jpg
Logo
LoCoMusings | Century 21 Redwood Realty
540 Fort Evans Road Suite 303
Leesburg VA, 20176