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William Mercogliano III

themercteam@gmail.com +1(856) 472-9836

Listed by Ryan McManus • Keller Williams Liberty Place

$9,199,999

Est. payment - /mo

0.28 Acres Lot

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UPDATED:

Key Details

Property Type Commercial

Sub Type Five Or More Units

Listing Status Active

Purchase Type For Sale

Subdivision East Falls

MLS Listing ID PAPH2385318

Year Built 2024

Annual Tax Amount $2,418

Tax Year 2025

Lot Size 0.284 Acres

Acres 0.28

Lot Dimensions 105.00 x 209.00

Property Sub-Type Five Or More Units

Source BRIGHT

Property Description

THE GRACE APARTMENTS — named for a Philadelphia icon, Grace Kelly — this boutique, 34-unit, ±30K SF new construction multifamily property is nestled in the northwest hills of East Falls in Philadelphia, Pennsylvania. This premium turnkey 7.15% CAP asset commands an impressive streetscape presence on Midvale Avenue — the winding, bucolic avenue which runs from the top of the hill to the Schuylkill River. Located in the storybook East Falls setting where extremely high barriers-to-entry exists, the 5-storey building is comprised of studios, 1bd and 2bd apartments and commercial space. Residents have access to a fully furnished fitness center on the ground floor to practice everyday health and wellness, as well as a panoramic rooftop terrace showcasing views of the lush surrounds. The Property is set back from the bustling Ridge Ave corridor and tucked into the landscape, providing a quiet respite for residents. Yet, it's just steps from the plentiful shops, restaurants, cafes and amenities in the East Falls borough, and equally convenient to Main Street Manayunk, The Schuylkill River Trail, Septa's regional rail station, Jefferson University, Wissahickon Valley Park, Bala Cynwyd shopping + office districts, and so much more—just outside of the urban core. The asset carries the benefits of a FULL 10 year tax abatement along with minimal expenditures, in an area poised for above-average rent growth and appreciation — NW PHL—the top destination in the world to visit in 2026.

Location

State PA

County Philadelphia

Area 19129 (19129)

Zoning CMX25

Interior

Hot Water Electric

Heating Wall Unit

Cooling Ductless/Mini-Split

Flooring Luxury Vinyl Plank

Heat Source Electric

Exterior

Water Access N

View City, River, Park/Greenbelt, Panoramic

Roof Type Other

Accessibility Elevator

Garage N

Building

Foundation Concrete Perimeter

Sewer Public Sewer

Water Public

New Construction Y

Schools

School District The School District Of Philadelphia

Others

Tax ID 882968860

Ownership Fee Simple

Security Features Exterior Cameras,Intercom

Special Listing Condition Standard

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Nearby School & Business

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William Mercogliano III

+1(856) 472-9836

Broker Associate License ID: 0893537

3503 MIDVALE AVE Philadelphia, PA 19129

William Mercogliano III

Key Details

Location

Interior

Exterior

Building

Schools

Others

Nearby School & Business

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