Active

240-42 E Girard Ave

Philadelphia PA, 19125

$2,417,000


$230.08 per sqft

Active

9 Beds

10,505 sqft

Residential

Built in 1915

$1M price reduction: "The Fishtown Portfolio" presents a rare investment opportunity to acquire three (3) best-in-class boutique mixed-used properties at a substantial discount to replacement cost in the most vibrant location in Philadelphia, Pennsylvania -- FISHTOWN. Each building features an instantly recognizable address (Frankford Avenue and Girard Avenue) which insulate the properties and elevate the rentability factor for new ownership. 2301 Frankford = 6 apts + commercial. Signed lease for ground floor commercial (bar concept) -- all apartments leased. 2001 Frankford = 8 apts + 2x commercial. Vacant ground floor commercial (to be built out once tenant's procured) -- apartments in punchlist/lease up phase. 240 E Girard = 9 apts + 2x commercial. White box commercial space -- apartments in lease up. These assets benefit from destination ground floor retail/commercial spaces with unrivaled street presence/exposure. Fishtown is known for its world-class culinary environment, in addition to its thriving retail, commercial and residential landscape swelling with positive demand. 28 total units are included within The Portfolio. 8.4% pro forma cap rate. 10 year tax abatement. Seize the rare opportunity to acquire trophy addresses in Philly's hottest submarket.

***PORTFOLIO SALE; 3 BUILDINGS ON OFFER (2301 FRANKFORD, 2001 FRANKFORD, 240 E GIRARD). USE SELLER'S PREFERRED TITLE COMPANY TO ENSURE SMOOTH SETTLEMENT PROCESS. TAXES, SF, FINANCIALS TO BE INDEPENDENTLY VERIFIED IN DUE DILIGENCE.

PAPH2421778

MLS ID

November 25, 2024

Listed

January 17, 2025

Updated

Map

240-42 E Girard Ave
Philadelphia PA, 19125

Interior Features

Bedrooms

9


Interior Features

Elevator


Fireplace

No


Cooling

Yes


Cooling Description

Central Air


Heating

Yes


Heating Description

Central

Exterior/Building Features

Lot Size

0.06 Acres


Architectual Style

Unit/Flat


Sewer

Public Sewer

School Information

School District

PHILADELPHIA CITY

Other Property Details

Area Name

PHILADELPHIA


Taxes

$24,411


Tax Frequency

Annually


Days on Market

54


Garage

No


Parking

On Street


View

No


County

PHILADELPHIA


Water Source

Public


Pool

No

Listing History

Date

Event

Price

1/17/2025

Price change

$2,417,000

-13%

11/25/2024

Active

Listed by Keller Williams Liberty Place
Listing Contact: 6106061095 

The IDX display contains information sourced from the Bright MLS, Inc. as of 1/17/2025. This data is intended solely for personal, non-commercial use and is not to be utilized for any other purposes except to identify potential properties for purchase. Although the MLS data displayed is typically considered reliable, it is not guaranteed to be accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and are advised to conduct their own investigations or seek professional assistance. Other sources besides the Listing Agent may have contributed to the MLS data presented. Unless expressly specified in writing, the Broker/Agent has not confirmed any information obtained from external sources. The Broker/Agent may or may not have acted as the Listing and/or Selling Agent and cannot guarantee the accuracy of property locations displayed on any map. Any compensation offers are solely made to participants of the MLS where the listing is registered.

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Data last updated on 1/17/2025 at 4:17 PM UTC

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