University City Mixed Use Portfolio

4441-47 Chestnut Street & 126-36 South 45th Street Philadelphia, PA 19104 ‎



Property Details

  • Price-
  • Property TypeMixed Use
  • NeighborhoodUniversity City
  • Number of Units-
  • Lot Size-
  • Price/Unit-
  • Price/Bedroom-
  • Year Built1920 / 2008

Investment Highlights

  • 33 Apartment Units + 10 Commercial Units
  • Renovations North of $1,200,000 Spent at All Locations in 2008
  • Six Years Remain on 10-Year Tax Abatement
  • Tenants Pay Heat, Hot Water and Electric
  • 97% Occupied; Excellent Rental History
  • Ideally Situated in University City; Just Blocks from Drexel University and the University of Pennsylvania

Description

Rittenhouse Realty Advisors extends to qualified investors the opportunity to acquire the fee simple interest in this mixed-use portfolio situated in University City Philadelphia consisting of seven properties that enjoy ideal surroundings and are within three blocks of one of the most prestigious Ivy League schools in the country. The University of Pennsylvania has partnered with the City of Philadelphia to create the Penn Connects Expansion Plan which is currently in development. It is “a land use and urban design plan developed to maximize this once-in-a-century opportunity to redefine Penn as a premier urban research university.” The main goals are to boost the economic, educational and social capacity of Philadelphia, and to create seamless gateways between West Philadelphia and Center City. This 20 year plan and expanding growth of University City will continue to increase the demand and value for investment properties in the West Philadelphia area.

Property Status

NOTE: This property is no longer available.


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