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William Mercogliano III

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

Listed by Ryan McManus • Keller Williams Liberty Place

$2,450,000

Est. payment - /mo

6,750 Sqft 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 Mt Airy

MLS Listing ID PAPH2385330

Year Built 2022

Annual Tax Amount $2,757

Tax Year 2024

Lot Size 6,750 Sqft

Acres 0.15

Lot Dimensions 13.00 x 160.00

Property Sub-Type Five Or More Units

Source BRIGHT

Property Description

INTRODUCING: 85 EAST — This 9-unit gated new construction apartment community with parking is set back peacefully off the quaint cobbles of Germantown Avenue in Philadelphia's historic Mount Airy neighborhood in NW PHL. It is a turnkey investment opportunity with an attractive 6% cap rate. Comprising 3 contiguous triplex buildings, 85 East features private parking and panoramic rooftop terraces for residents. Each building features two (2) 2bd x 1ba units on the 1st/2nd floors and one (1) 3bd x 2ba unit on the 3rd floor, with private access to the rooftop terrace. The interiors are outfitted with high-end finish kits including quartz countertops, LVP flooring, stainless-steel appliance packages, designer lighting and more. Bright, spacious and airy interiors provide a serene sense of calm inside the buildings. Walkable to Germantown Avenue's commercial corridor lined with boutiques, shops, breweries, restaurants, cafes and historic structures, 85 East is connected to the fabric of Mount Airy's eclectic lifestyle. Easy access into Center City and University City by train (3 minutes to Carpenter Station on Chestnut Hill West Septa line) or car (25 minutes to Center City), as well as suburban employment and entertainment districts. Walkable nearby amenities include: Mount Airy Tap Room, Acme, Lovett Memorial Library, Wawa, McMenamin's, Jansen, Johnson House Historic Site, Weaver's Way Co-op, Grocery Outlet, Young American Hard Cider and Tasting Room — as well as Wissahickon Valley Park, Chestnut Hill and Historic Germantown. 10 Year Tax Abatement—pay taxes on assessed land value rather than improvements. Minimal expenditures. High-growth rental submarket.

Location

State PA

County Philadelphia

Area 19119 (19119)

Zoning RSA5

Interior

Hot Water Electric

Heating Wall Unit

Cooling Ductless/Mini-Split

Flooring Luxury Vinyl Plank

Heat Source Electric

Exterior

Garage Spaces 9.0

Water Access N

View Panoramic, Scenic Vista, City

Roof Type Fiberglass

Accessibility None

Total Parking Spaces 9

Garage N

Building

Lot Description Flag

Foundation Concrete Perimeter

Sewer Public Sewer

Water Public

New Construction Y

Schools

School District The School District Of Philadelphia

Others

Tax ID 221121700

Ownership Fee Simple

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

85 E SHARPNACK ST Philadelphia, PA 19119

William Mercogliano III

Key Details

Location

Interior

Exterior

Building

Schools

Others

Nearby School & Business

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