$161.98 Per Sq Foot $26,304 est/mo Sourced by Back At You

710-16 S American St,Philadelphia, PA 19147

Philadelphia PA, 19147

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Description

Introducing "Bainbridge Lofts" at 710-16 South American Street: a turnkey, stabilized loft apartment building located in the coveted Queen Village submarket of Philadelphia, Pennsylvania. With 13 units and 30 parking spaces in a private, secure garage, Bainbridge Lofts provides residents with the ultimate urban lifestyle rooted in convenience and character. With exposed brick and beam throughout the property, tenants feel instantly at home, tucked away on a quiet, extremely well-maintained street (the property runs from South 3rd Street to American Street) in a location that's walkable to many of the city's top restaurants, cafes, parks and shops. Hardwood floors, stainless steel appliances, quartz countertops, spiral staircases, shaker cabinetry and exposed ductwork lend additional interior appeal, while the redbrick facade provides immediate curb appeal. Assumable financing is in place (subject to lender approval) with a highly-attractive 4.85% interest rate through November 1st 2027, with a 5-year extension option available through 2032. Generational blue-chip multifamily assets such as Bainbridge Lofts rarely come to market due to limited supply in the residential neighborhoods they inhabit. Tangible rental upside exists for new ownership to raise rents via cosmetic enhancements if desired. This could be done on an unobtrusive basis (unit by unit rather than full building) so as to not disturb the existing tenant base. Located just outside of the urban core in a tranquil setting with convenient connections to all of Philly's main arteries and roadways, Bainbridge Lofts is positioned for sustainable demand for decades to come.

Details

MLS#PAPH2351692
Listing TypeFor Sale
Sub-TypeResale
StatusActive
Year1900
Days On Site13
Listing Provided ByCompass Pennsylvania, LLC | Ryan J McManus

Features

SQ Feet30,250
ZoningRM1
Acreage0.23

Market Activity 19147

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Listings Checked: 1 minute ago
StatePA
CountyPhiladelphia
CityPhiladelphia
Zip Code19147
Area19147
School DistrictPhiladelphia City
Listing VS Median (in 19147)
Price:
$4,900,000
low | high
Med:
$405,500
100% of Average
SqFt:
30,250
low | high
Med:
1,304
100% of Average
$ / SqFt:
$162
low | high
Med:
$311
41.974067234256% of Average
On Site:
13
low | high
Med:
234.000000
5.555555555556% of Average
Sourced by Back At You
Listing Updated: May 18, 2024 at 3:26:36 PM PDT