1514-1516 Parrish Street (Francisville)

1514 Parrish Street Philadelphia, PA 19130

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Property Details

  • Price$ 3,400,000
  • Property TypeMulti Unit Housing
  • NeighborhoodFrancisville
  • Number of Units10
  • Lot Size0.11 acres
  • Price/Unit$ 340,000
  • Price/Bedroom-
  • Year Built2016

Investment Highlights

  • New Construction: 10 Year Tax Abatement (In Process)
  • Francisville Location: Philadelphia’s Most Exciting and Resurgent Market
  • High-End Amenities: Only Apartment Building in Sub-Market with a Pool
  • Transit-Friendly: Minutes from SEPTA Broad Street Line
  • Luxury Finishes: Apartment Units with Condo Finishes
  • Excellent Unit Mix: (60%) 2 Bedroom/2 Bath; (40%) 3 Bedroom/3 Bath Units
  • Center City Access: Close Proximity to Downtown Philadelphia
  • Unparalleled Views: Large Roof Deck Offers Great Views of Philadelphia’s Skyline

Investment Overview
On behalf of Ownership, Rittenhouse Realty Advisors extends to qualified investors the opportunity to acquire the fee simple interest in 1514–1516 Parrish Street, a newly-constructed, luxury apartment community with 10 spacious units, a large roof deck, and the only pool in the bustling Francisville neighborhood. Francisville is Philadelphia’s most promising and invigorated neighborhood due to its strategic location – it borders the Fairmount and Brewerytown neighborhoods to the west, the Spring Arts Neighborhood to the South, Templetown to the North, and The Loft neighborhood to the East. Unlike other resurgent neighborhoods in Philadelphia (Northern Liberties and Fishtown), Francisville enjoys easy access to Center City via the SEPTA Broad Street Line which has multiple stops (Fairmount Station and Girard Station) in very close proximity to the property.

1514–1516 Parrish Street is a newly-constructed, four-story building with an elevator and sprinkler system. It includes a large, furnished roof deck with unparalleled views of Philadelphia’s skyline and the only pool in the Francisville sub-market. The building offers a great unit mix with 60% of the units being two-bedroom/two-bath with the remaining 40% at three-bedroom/three-bath. Every unit enjoys high ceilings with high-end, granite countertop kitchens, stainless steel appliances, modern baths, ample closet space, washer/dryer, and large windows allowing an abundance of natural light. This building offers a secure, video monitored entrance as well as an RFID entrance system for the tenants. Tenants pay for heat, hot water, and electric.

Francisville has found itself in the middle of the rapid development of Philadelphia’s secondary neighborhoods with its strategic location and neighborhood resources. St. Joseph’s Preparatory School, an elite all-boys academy with a yearly tuition of $20,000, has cemented itself as a neighborhood institution. Just to the North, Temple University and its enrollment of nearly 40,000 students provides an ever-changing population of some of Philadelphia’s brightest young minds and a neighborhood with expanding boundaries and new development. Recently, real estate development has become a growing trend in this neighborhood with new construction properties replacing the rundown rowhomes. This property provides an investor the opportunity to own the most highly amenitized apartment building in a rapidly-developing neighborhood.

Offering Memorandum


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NOTE: Outside Brokers must complete this Cooperating Broker Agreement and return via email to info@rittenhouserealty.com or fax to 267-324-3394.

Brokers

Ken Wellar
Tel: (215) 454-2852 EXT 1002
Cell: (610) 745-4800
License: PA RS289487 / NJ 1005492
ken@rittenhouserealty.com

Mark Duszak
Tel: (215) 454-2852 EXT 1003
Cell: (215) 805-5011
License: PA RS277420 / NJ 0047530
mark@rittenhouserealty.com

Chris Egan
Tel: (215) 454-2852 EXT 1010
Cell: (609) 602-1782
License: PA RS317018
chris@rittenhouserealty.com

Corey Lonberger
Tel: (215) 454-2852 EXT 1001
Cell: (267) 760-3726
License: PA RS279134 / DE RS0016407
corey@rittenhouserealty.com

Douglas Emrich
Tel: (215) 454-2852 EXT 1005
Cell: (610) 733-8482
License: PA RS320748
doug@rittenhouserealty.com

Seth Douglas
Tel: (215) 454-2852 EXT 1013
Cell: (717) 858-1821
License: PA RS336807
seth@rittenhouserealty.com



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