763-65 S 8TH Street

Description

763 S 8th St is a boutique 8-plex (8 units) with ground floor commercial and a 4-car garage at the corner of 8th & Fulton in the "Italian Market" submarket of Philadelphia, Pennsylvania. The subject property is part of a larger portfolio of extremely well-maintained boutique apartment buildings offered by Ownership as a package sale of 2 buildings (14 units) in the desirable "Italian Market" area of South Philadelphia. "The Properties" are located within 1.5M of one another, with the exception of one asset that is located near Philadelphia International Airport (ideal Airbnb conversion). "The Portfolio" offers tremendous critical mass in one of the most attractive locations in Philadelphia. The properties are located right off Cianfrani Park, a popular neighborhood attraction. "The Properties" are walkable to many of South Philly's top amenities, parks, restaurants, cafes, schools and transit stops. This is a generational acquisition opportunity to purchase high-performing multifamily assets with 20% rental upside based on pro forma rents in the submarket(s). Ownership has carefully built, leased and maintained each asset over its tenure. New Ownership can enact a value-add capital enhancement program to achieve top-of-market rental rates or continue operating "The Portfolio" as is. "The Portfolio" is 100% leased and occupied, including the two (2) commercial spaces. "The Portfolio" consists of: 736 S 8th St & 763-5 S 8th St. Liquor license available for additional fee.