763 S 8TH STREET

PHILADELPHIA, PA, 19147

$3,345,000

$557 per ft²
$3,345,000
$557 per ft²
Active
Active
 - For Sale
carpenters-square
6,000 ft²
property_type
Commercial
calendar
Built 1911
763 S 8th St is a boutique 8-plex (8 units) with ground floor commercial and a 4-car garage at the corner of 8th & Fulton in the "Italian Market" submarket of Philadelphia, Pennsylvania. The subject property is part of a larger portfolio of extremely well-maintained boutique apartment buildings offered by Ownership as a package sale of 5 buildings (25 units) plus a rarely offered 15-unit prime multifamily development parcel in the desirable "Italian Market" area of South Philadelphia. "The Properties" are located within 1.5M of one another, with the exception of one asset that is located near Philadelphia International Airport (ideal Airbnb conversion). "The Portfolio" offers tremendous critical mass in one of the most attractive locations in Philadelphia. 3 of 5 properties are located right off Cianfrani Park, a popular neighborhood attraction. "The Properties" are walkable to many of South Philly's top amenities, parks, restaurants, cafes, schools and transit stops. This is a generational acquisition opportunity to purchase high-performing multifamily assets with 20% rental upside based on pro forma rents in the submarket(s). Ownership has carefully built, leased and maintained each asset over its tenure. New Ownership can enact a value-add capital enhancement program to achieve top-of-market rental rates or continue operating "The Portfolio" as is. "The Portfolio" is 100% leased and occupied, including the two (2) commercial spaces. "The Portfolio" consists of: 713-15 Mildred St; 736 S 8th St; 763-5 S 8th St; 2702 Dothan Plaza; 1327 Snyder Ave; 1425 Jackson St. Liquor license available for additional fee.
MLS® ID:
PAPH2141768
Updated:
9/30/22

Interior Features

Total Bedrooms
0
Total Bathrooms
0
Cooling
Central A/C
Heating
Central

Exterior/Building Features

Lot Size
2,945 ft² lot
Lot Details
Corner
Sewer
Public Sewer

School Information

School District
THE SCHOOL DISTRICT OF PHILADELPHIA

Other Property Details

Area Name
19147 (19147)
Taxes
$17862.00
Tax Frequency
per YEAR
Garage
No
Parking
N
View
Y
County
PHILADELPHIA
Water Source
Public
Pool
No
Zoning
CMX1
Contact