Philadelphia, PA 19119 85 E Sharpnack Street

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Presented By: Keller Williams Liberty Place
  • MLS# PAPH2385330
  • 08/09/2024
  • Request Tour
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  • SQFT • 12,720

Home Details

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 Philadelphias historic Mount Airy neighborhood in NW PHL. It is a turnkey investment opportunity with an attractive 7.1% 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 Avenues commercial corridor lined with boutiques, shops, breweries, restaurants, cafes and historic structures, 85 East is connected to the fabric of Mount Airys 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, McMenamins, Jansen, Johnson House Historic Site, Weavers 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 Abatementpay taxes on assessed land value rather than improvements. Minimal expenditures. High-growth rental submarket. BUYER TO VERIFY TAXES, SF, FINANCIALS IN DD.
Presented By: Keller Williams Liberty Place

Interior Features for 85 E Sharpnack Street

Other Interior Features

Central Air Y/NNo
FlooringLuxury Vinyl Plank
Heating FuelElectric
Heating Y/NYes
Hot WaterElectric
Total Stories3

Other Rooms

Entry Level1

General for 85 E Sharpnack Street

AccessibilityNone
Business TypeApartment Building
Cap Rate7.10
CityPHILADELPHIA
Construction Completed Y/NYes
Construction MaterialsBrick
Cool FuelElectric
CoolingDuctless/Mini-Split
CountyPHILADELPHIA
DirectionsBETWEEN ROSS AND GERMANTOWN ON SHARPNACK
HeatingWall Unit
Historic Y/NNo
Location TypeUrban
Lot Size Square Feet6750.00
Lot Size UnitsSquare Feet
MLS Area19119 (19119)
ModificationTimestamp2025-01-21T19:14:52
MunicipalityPHILADELPHIA
New ConstructionYes
Number Of Units Total9
OwnershipFee Simple
PossessionImmediate
Price Per Sq Ft Total AG192.61
Property ConditionExcellent
Property SubtypeFive Or More Units
Property TypeCommercial Sale
Property UseInvestment
RoofFiberglass
SewerPublic Sewer
Standard StatusActive
StatusACTIVE
Subdivision NameMT AIRY
Tax Annual Amount2757.0
Tax Assessed Value196970.0
Tax Lot42
Tax Year2024
Vacation Rental Y/NNo
ViewPanoramic, Scenic Vista, City
Water Access Y/NNo
Waterfront Y/NNo
Year Built2022
Year Built SourceAssessor
ZoningRSA5

Exterior for 85 E Sharpnack Street

Building Area Total12720.00
Car Parking Spaces9
Foundation DetailsConcrete Perimeter
Land Assessed Value196970.00
Land Use CodeSR
Lot Dimensions13.00 x 160.00
Lot FeaturesFlag
Lot Size Acres0.15
Lot Size SourceAssessor
LotDimensionsSourceAssessor
Navigable Water Y/NNo
Total Loading Docks0
Total Parking Spaces9
Type of ParkingDriveway
Water Oriented Y/NNo
Water SourcePublic
Water View Y/NNo

Additional Details

Price History

Rachel Shepherd

Price $2,450,000
MLS#PAPH2385330
List Date 08/09/2024
Property Type Commercial
Phone 703.929.4729
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