Philadelphia, PA
Property Type: MultifamilySize: 24 Units
Price: $2,400,000
CAP: 8.04%
Highlights:
- 24 Units in North Philadelphia
- Located Just off Broad Street, Adjacent to Einstein Medical Center
- Priced to Sell: $100K per Unit, 8%+ In-Place Cap Rate
- Separate Entrances and Semi-Private Backyards
- Quiet, Tree-Lined Street with Ample Street Parking
Description:
Marcus & Millichap is pleased to present for sale the Somerville Homes - 24 units in North Philadelphia. Most units are currently occupied by a Section 8 tenant base - offering stable and predictable cash flow with secured rent growth for the coming years.
The property is located directly next to the Einstein Medical Center, which is a large 772-bed teaching hospital. It is also located just off Broad Street, walking distance to the Olney Transportation Center which is a bus and subway hub for the area.
The units each have separate entrances and separate utilities of which gas and water are paid for by the owner. Tenants are responsible for electricity. The downstairs units also have front porches and semi-private backyards.
Sommerville Homes is being offered at $2,400,000 or $100,000 Per Unit.
CLICK HERE TO VIEW THE OFFERING MEMORANDUM
