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Simone Velvel

simone@thevelvelgroup.com +1(703) 507-7614

Listed by Ryan McManus • Keller Williams Liberty Place

$2,450,000

Est. payment - /mo

12,720 SqFt

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Key Details

Property Type Multi-Family

Sub Type Other

Listing Status Active

Purchase Type For Sale

Square Footage 12,720 sqft

Price per Sqft $192

Subdivision Mt Airy

MLS Listing ID PAPH2414060

Style Other

Abv Grd Liv Area 12,720

Year Built 2022

Annual Tax Amount $2,757

Tax Year 2024

Lot Size 6,750 Sqft

Acres 0.15

Lot Dimensions 13.00 x 160.00

Property Sub-Type Other

Source BRIGHT

Property Description

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.

Location

State PA

County Philadelphia

Area 19119 (19119)

Zoning RSA5

Interior

Hot Water Electric

Heating Wall Unit

Cooling Ductless/Mini-Split

Flooring Luxury Vinyl Plank

Heat Source Electric

Exterior

Water Access N

View Panoramic, Scenic Vista, City

Roof Type Fiberglass

Accessibility None

Garage N

Private Pool No

Building

Lot Description Flag

Foundation Concrete Perimeter

Above Ground Finished SqFt 12720

Sewer Public Sewer

Water Public

Architectural Style Other

Additional Building Above Grade

New Construction Y

Schools

School District The School District Of Philadelphia

Others

Tax ID 221121700

Ownership Fee Simple

SqFt Source 12720

Special Listing Condition Standard

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Nearby Locations

"Simone's passion for real estate and her love for "The DMV" are a perfect match. She has made it her mission to help local residents sell their homes quickly and at the best possible prices. Equally, she takes immense pride in assisting homebuyers in finding their perfect piece of paradise in DC, Maryland and Virginia. "

+1(703) 507-7614

simone@thevelvelgroup.com

11003 Glueck Lane, Kensington, Maryland 20895, USA

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85 E SHARPNACK ST Philadelphia, PA 19119