Scenic Apartments

303 North 65 Street; Philadelphia, PA 19139

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Property Details

  • Price$ 2,600,000
  • Property TypeMulti Unit Housing
  • NeighborhoodHaddington/West Phila
  • Number of Units49
  • Lot Size0.7 acres
  • Price/Unit$ 53,061
  • Price/Bedroom-
  • Year Built1900

Investment Highlights

  • Value Add Opportunity
  • Below Market Rents
  • Quiet Residential Location in West Philadelphia
  • Conveniently Located Near Major Arteries, Public Transportation and Shopping

Investment Overview
On behalf of ownership, Rittenhouse Realty Advisors extends to qualified investors the opportunity to acquire the fee simple interest in Scenic Apartments, three apartment communities all located within a one block radius of each other in the Haddington neighborhood of West Philadelphia. The Haddington neighborhood is comprised of mostly two-story rowhomes with borders that are defined as Haverford/Girard Avenue to the North, 52nd Street to the East, Market Street to the South and 67th Street to the West. The Haddington neighborhood is experiencing major demographic changes with students and faculty from the University City area of Philadelphia expanding towards this neighborhood due the tremendous rental rate increases in University City.

The three buildings were built from the late 1870’s to the early 1930’s and are all located on a quiet residential street with convenient access to public transportation. Scenic Apartments offer a desirable unit mix with studios (54%) and the balance of the units one-bedroom, two-bedroom and three-bedroom units. The property has a garage space that is currently leased for $300 per month and a commercial space that is close to signing a lease.

Scenic Apartments presents an outstanding opportunity to acquire 48 units in an expanding area just outside of University City in Philadelphia.

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

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

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

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

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



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