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85 E Sharpnack St
Philadelphia, PA 19119
85 EAST · Multifamily Property For Sale
·
9 Units
INVESTMENT HIGHLIGHTS
- PRIVATE PARKING
- TURNKEY INVESTMENT
- EAST ACCESS TO DINING, SHOPPING DISTRICTS + TRAIN STATIONS
- NEW CONSTRUCTION
- HIGH-DEMAND/GROWTH LOCATION
- 10 YEAR TAX ABATEMENT
EXECUTIVE SUMMARY
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.
PROPERTY FACTS
| Price Per Unit | $376,867 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.16 AC |
| Cap Rate | 6% | Building Size | 12,720 SF |
| No. Units | 9 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 2022 |
| Zoning | RSA5 | ||
| Price Per Unit | $376,867 CAD |
| Sale Type | Investment |
| Cap Rate | 6% |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 12,720 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 2022 |
| Zoning | RSA5 |
AMENITIES
UNIT AMENITIES
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
- Smoke Detector
PROPERTY TAXES
| Parcel Number | 881000838 | Improvements Assessment | $2,454,185 CAD |
| Land Assessment | $272,687 CAD | Total Assessment | $2,726,872 CAD |
PROPERTY TAXES
Parcel Number
881000838
Land Assessment
$272,687 CAD
Improvements Assessment
$2,454,185 CAD
Total Assessment
$2,726,872 CAD
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