649 N 15 Th St

Highlights:

• Days on Market: 11
• Parking Features: Private
• Heating: Central

Description:

SCOPE Commercial Real Estate Services, LLC ("SCOPE") is pleased to present the opportunity to acquire 649 N 15th Street, a newly renovated 6 unit multifamily asset with three parking spaces, located in Philadelphia's vibrant Spring Garden neighborhood.

This 4,748-square-foot property, situated on a 2,500-square-foot lot, underwent comprehensive renovations in 2021 and has five years remaining on its tax abatement. The building features six residential units, all thoughtfully designed with high-end finishes, including high ceilings, hardwood flooring, central air, and large windows that allow natural light to flood the interiors.

649 N 15th Street is strategically located within the Spring Garden neighborhood, offering residents convenient access to a variety of amenities. Public transportation options are abundant, with the Girard Station of the Broad Street Line and multiple SEPTA bus routes within walking distance, facilitating easy commutes to Center City and other parts of Philadelphia. Additionally, the property is close to Fairmount Avenue, known for its eclectic mix of restaurants, cafes, and shops, enhancing the urban living experience.

Value-Add Potential: An analysis of the rent roll reveals a strong value-add opportunity. By increasing rents to market rates, the property could generate an additional 7.6% increase in rental income, presenting a compelling upside for investors.

This offering presents a unique opportunity to acquire a stabilized, high-quality asset in one of Philadelphia's most desirable neighborhoods, with significant upside potential through rental growth and continued strong demand for well-appointed residential units.