4557 Manayunk Ave
$2,100,000
4557 Manayunk Ave, Philadelphia, PA 19128
6
Cap Rate
11,850 sqft
Building Size
Details:
Highlights:
- Days on Market: 152
- Heating: Central
Description:
Corner
Cahill Arms Roxborough — this entirely unique multifamily investment property is loaded with original charm and modern conveniences. With seven (7) 1-2-3 bedroom apartments and a 1:1 parking ratio (7-car driveway), this is a rare investment opportunity, now available in one of Philly's fastest growing submarkets. An ideal unit matrix is composed of: three (3) 3bd units, two (2) 2bd units, two (2) 1bd units — ensuring supreme rentability in every market cycle. The NWPHL (Northwest Philly) location is prime — easy access to Schuylkill River Trail, shops, cafes, restaurants and bars along Ridge Avenue corridor, as well as the Main Street Manayunk district. This location is highly favored in the Greater Philadelphia rental marketplace as tenants seek out spacious and affordable rental accommodations in "semi-suburban" edge city locales — close enough to the urban core, yet tranquil enough for a laid-back/outdoorsy lifestyle. Easily accessible to all of Philadelphia's main arteries and districts, including I-76, I-476, City Avenue, Ridge Avenue, Main Street + Center City, University City, The Main Line, and the suburbs. The parcel commands attention with its prominent corner placement. The gated building is luxuriously laid out with spaciously oversized units, 10' ceilings, beautiful corridors, custom millwork, bi-level and tri-level units, french balconies, exposed Wissahickon schist (stone) and other high-end building material selections. The condo association is active. In-place rents are substantially below market, allowing new ownership to reset rents considerably with minimal capex to be performed — in addition to filling the remaining vacancies. A healthy stabilized rent roll should yield approx. $14,725/mo. Expenses are roughly ±$70k. NOI = ±$127,520.
Location
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