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5100 Walnut Street

PHILADELPHIA, PA 19139
  • $7,900,000
  • STATUS: Active
  • ON SITE: 103 Days
  • ID#: PAPH2179698
UPDATED: 43 min ago
$7,900,000
  • 0
    BEDS
  • 0.29
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
1911
County:

School Ratings & Info

Description

Pre-war apartment buildings rarely come to the market.+- The 49 unit La Blanche is walking distance to U Penn, Drexel and University of the Sciences.+- Ninety-five percent currently leased gives the ability to continue with cash flow and then add value as tenants end leases (most are month to month) and then raise rents to the current market rates.+- This corner property measures approximately 150 feet by 118 feet and extends from Walnut to Chancellor, in a rapidly developing area bringing rent growth and building appreciation.+- The property consists of six (6) studios, thirty-six (36) one bedroom, six (6) two bedrooms and one (1) three-bedroom apartment.+- This Georgian Revival Style broke ground in 1910 and was part of the second wave of a housing boom in West Philadelphia that started with the 1907 completion of the Market Street Elevated line.+- The building is one of the first large apartments built in Philadelphia, with a striking fa+-ade.+- Location awareness:+- In general, the University City section has become one of the fastest growing submarkets in all of Philadelphia. Over $3.5 billion of new or recently completed real estate projects have transformed this area into a hub of +G+Eds and Meds+G-. University City attracts undergraduate and graduate students as well as young professionals and families. The area is highly desirable given its walkability to the numerous major educational and healthcare institutions such as The University of Pennsylvania, University of the Sciences, CHOP, Drexel University and The Wharton School of Business. Situated near an abundance of public transportation with various bus routes, trolley lines, and the Market-Frankford line within a short walking distance. The project is uniquely positioned in the path of growth and ready to see significant rent increases in the coming years therefore offering a good rental upside.+- Perfect for a 1031 exchange. Inquire within for OM.

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©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 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: 2023-03-23T15:54:40.657.
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5100 Walnut Street PHILADELPHIA, PA 19139

  • Price: $7,900,000
  • Status: Active
  • On Site: 103 Days
  • Updated: 43 min ago
  • ID#: PAPH2179698
0
Beds
0
Baths
0
½ Baths
0.29
Acres
1911
Built
Neighborhood:
University City
County:
Philadelphia
Area:
19139 (19139)
School District:
The School District Of Philadelphia
Property Description
Pre-war apartment buildings rarely come to the market.+- The 49 unit La Blanche is walking distance to U Penn, Drexel and University of the Sciences.+- Ninety-five percent currently leased gives the ability to continue with cash flow and then add value as tenants end leases (most are month to month) and then raise rents to the current market rates.+- This corner property measures approximately 150 feet by 118 feet and extends from Walnut to Chancellor, in a rapidly developing area bringing rent growth and building appreciation.+- The property consists of six (6) studios, thirty-six (36) one bedroom, six (6) two bedrooms and one (1) three-bedroom apartment.+- This Georgian Revival Style broke ground in 1910 and was part of the second wave of a housing boom in West Philadelphia that started with the 1907 completion of the Market Street Elevated line.+- The building is one of the first large apartments built in Philadelphia, with a striking fa+-ade.+- Location awareness:+- In general, the University City section has become one of the fastest growing submarkets in all of Philadelphia. Over $3.5 billion of new or recently completed real estate projects have transformed this area into a hub of +G+Eds and Meds+G-. University City attracts undergraduate and graduate students as well as young professionals and families. The area is highly desirable given its walkability to the numerous major educational and healthcare institutions such as The University of Pennsylvania, University of the Sciences, CHOP, Drexel University and The Wharton School of Business. Situated near an abundance of public transportation with various bus routes, trolley lines, and the Market-Frankford line within a short walking distance. The project is uniquely positioned in the path of growth and ready to see significant rent increases in the coming years therefore offering a good rental upside.+- Perfect for a 1031 exchange. Inquire within for OM.
Exterior Features

Construction Materials MasonryBrickFrame Garage YN No Parking Types On Street Property Condition Very Good Riparian Rights YN No Roof Flat Water Access YN No Water Oriented YN No Water View YN No Waterfront YN No

Interior Features

Building Area Total 34600.00 Cooling Central A/C Heating Forced Air Heating YN Yes Net Square Feet 12460.00

Property Features

Accessibility Features None Assessment Year 2022 Business Type Apartment Building Central Air YN Yes Cooling Fuel Electric Cross Street 51St. Street Foundation Details StoneConcrete PerimeterBrick/Mortar Heating Fuel Natural Gas Hot Water Electric Municipality Philadelphia Navigable Water YN N New Construction YN No Number Of Units Total 49 Original MLSNumber 802013687492 Ownership Interest Fee Simple Possession Settlement Property Sub Type Five Or More Units Sale Type Standard Sewer Public Sewer Tax Annual Amount 21436.00 Tax Assessment Amount 1531400.00 Tax Lot 261 Vacation Rental YN No Water Source Public Year Built Effective 2010 Zoning Rm1

Listing courtesy of Keller Williams Philadelphia: .


©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 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: 2023-03-23T15:54:40.657.
 
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