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763-65 S 8TH Street

PHILADELPHIA, PA 19147
  • $3,345,000
  • STATUS: Active
  • ON SITE: 8 Days
  • ID#: PAPH2141768
UPDATED: 75 min ago
$3,345,000
  • 0
    BEDS
  • 0.07
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
1911
County:

School Ratings & Info

Description

763 S 8th St is a boutique 8-plex (8 units) with ground floor commercial and a 4-car garage at the corner of 8th & Fulton in the "Italian Market" submarket of Philadelphia, Pennsylvania. The subject property is part of a larger portfolio of extremely well-maintained boutique apartment buildings offered by Ownership as a package sale of 5 buildings (25 units) plus a rarely offered 15-unit prime multifamily development parcel in the desirable "Italian Market" area of South Philadelphia. "The Properties" are located within 1.5M of one another, with the exception of one asset that is located near Philadelphia International Airport (ideal Airbnb conversion). "The Portfolio" offers tremendous critical mass in one of the most attractive locations in Philadelphia. 3 of 5 properties are located right off Cianfrani Park, a popular neighborhood attraction. "The Properties" are walkable to many of South Philly's top amenities, parks, restaurants, cafes, schools and transit stops. This is a generational acquisition opportunity to purchase high-performing multifamily assets with 20% rental upside based on pro forma rents in the submarket(s). Ownership has carefully built, leased and maintained each asset over its tenure. New Ownership can enact a value-add capital enhancement program to achieve top-of-market rental rates or continue operating "The Portfolio" as is. "The Portfolio" is 100% leased and occupied, including the two (2) commercial spaces. "The Portfolio" consists of: 713-15 Mildred St; 736 S 8th St; 763-5 S 8th St; 2702 Dothan Plaza; 1327 Snyder Ave; 1425 Jackson St. Liquor license available for additional fee.

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©2022 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or ExecuHome Realty. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2022-08-11T15:04:44.763.
www.execuhome.com/homes/131528757
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763-65 S 8TH Street PHILADELPHIA, PA 19147

  • Price: $3,345,000
  • Status: Active
  • On Site: 8 Days
  • Updated: 75 min ago
  • ID#: PAPH2141768
0
Beds
0
Baths
0
½ Baths
0.07
Acres
1911
Built
Neighborhood:
19147 (19147)
County:
Philadelphia
Area:
19147 (19147)
School District:
The School District Of Philadelphia
Property Description
763 S 8th St is a boutique 8-plex (8 units) with ground floor commercial and a 4-car garage at the corner of 8th & Fulton in the "Italian Market" submarket of Philadelphia, Pennsylvania. The subject property is part of a larger portfolio of extremely well-maintained boutique apartment buildings offered by Ownership as a package sale of 5 buildings (25 units) plus a rarely offered 15-unit prime multifamily development parcel in the desirable "Italian Market" area of South Philadelphia. "The Properties" are located within 1.5M of one another, with the exception of one asset that is located near Philadelphia International Airport (ideal Airbnb conversion). "The Portfolio" offers tremendous critical mass in one of the most attractive locations in Philadelphia. 3 of 5 properties are located right off Cianfrani Park, a popular neighborhood attraction. "The Properties" are walkable to many of South Philly's top amenities, parks, restaurants, cafes, schools and transit stops. This is a generational acquisition opportunity to purchase high-performing multifamily assets with 20% rental upside based on pro forma rents in the submarket(s). Ownership has carefully built, leased and maintained each asset over its tenure. New Ownership can enact a value-add capital enhancement program to achieve top-of-market rental rates or continue operating "The Portfolio" as is. "The Portfolio" is 100% leased and occupied, including the two (2) commercial spaces. "The Portfolio" consists of: 713-15 Mildred St; 736 S 8th St; 763-5 S 8th St; 2702 Dothan Plaza; 1327 Snyder Ave; 1425 Jackson St. Liquor license available for additional fee.
Exterior Features

Construction Materials Masonry Garage YN No Location Type Urban Lot Features Corner Parking Types Private Garage Riparian Rights YN No View City Water Access YN No Water Oriented YN No Water View YN No Waterfront YN No

Interior Features

Building Area Total 6000.00 Cooling Central A/C Heating Central Heating YN Yes Net Square Feet 6000.00

Property Features

Accessibility Features None Assessment Year 2022 Business Type Apartment BuildingOtherRestaurant/Bar Central Air YN Yes Cooling Fuel Electric Heating Fuel Natural Gas Hot Water Electric Municipality Philadelphia Navigable Water YN N New Construction YN No Number Of Units Total 8 Original MLSNumber 801752825124 Ownership Interest Fee Simple Possession Settlement Property Sub Type Five Or More Units Sale Type Standard Sewer Public Sewer Tax Annual Amount 17862.00 Tax Assessment Amount 1276100.00 Tax Lot 357 Vacation Rental YN No Water Source Public Zoning Cmx1

Listing courtesy of Compass Pennsylvania, Llc.


©2022 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or ExecuHome Realty. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2022-08-11T15:04:44.763.
 
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