240-42 E GIRARD AVE Active Save Request In-Person Tour Request Virtual Tour
Philadelphia,PA 19125
Key Details
Property Type Multi-Family
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 10,505 sqft
Price per Sqft $230
MLS Listing ID PAPH2421778
Style Unit/Flat
Abv Grd Liv Area 10,505
Originating Board BRIGHT
Year Built 1915
Annual Tax Amount $24,411
Tax Year 2024
Lot Size 2,575 Sqft
Acres 0.06
Lot Dimensions 35.00 x 74.00
Property Description
$1M price reduction: "The Fishtown Portfolio" presents a rare investment opportunity to acquire three (3) best-in-class boutique mixed-used properties at a substantial discount to replacement cost in the most vibrant location in Philadelphia, Pennsylvania — FISHTOWN. Each building features an instantly recognizable address (Frankford Avenue and Girard Avenue) which insulate the properties and elevate the rentability factor for new ownership. 2301 Frankford = 6 apts + commercial. Signed lease for ground floor commercial (bar concept) — all apartments leased. 2001 Frankford = 8 apts + 2x commercial. Vacant ground floor commercial (to be built out once tenant's procured) — apartments in punchlist/lease up phase. 240 E Girard = 9 apts + 2x commercial. White box commercial space — apartments in lease up. These assets benefit from destination ground floor retail/commercial spaces with unrivaled street presence/exposure. Fishtown is known for its world-class culinary environment, in addition to its thriving retail, commercial and residential landscape swelling with positive demand. 28 total units are included within The Portfolio. 8.4% pro forma cap rate. 10 year tax abatement. Seize the rare opportunity to acquire trophy addresses in Philly's hottest submarket.
***PORTFOLIO SALE; 3 BUILDINGS ON OFFER (2301 FRANKFORD, 2001 FRANKFORD, 240 E GIRARD). USE SELLER'S PREFERRED TITLE COMPANY TO ENSURE SMOOTH SETTLEMENT PROCESS. TAXES, SF, FINANCIALS TO BE INDEPENDENTLY VERIFIED IN DUE DILIGENCE.
Location
State PA
County Philadelphia
Area 19125 (19125)
Zoning CMX2
Interior
Hot Water Natural Gas
Heating Central
Cooling Central A/C
Fireplace N
Heat Source Central
Exterior
Water Access N
Accessibility Elevator
Garage N
Building
Sewer Public Sewer
Water Public
Architectural Style Unit/Flat
Additional Building Above Grade,Below Grade
New Construction Y
Schools
School District Philadelphia City
Others
Tax ID 881806407
Ownership Fee Simple
SqFt Source Assessor
Special Listing Condition Standard