15 Units | Old City

Philadelphia PA

Investment Overview

  • Offering Price $4,100,000
  • Apartment Units 15
  • Building Size 14,828 SF
  • Lot Size 3,895 SF
  • Built / Renovated 1860/2022
  • Zoning CMX-3

The Property is comprised of two buildings totaling 15 nearly complete apartment units in the affluent and historical Old City neighborhood of Philadelphia. The Properties boast an attractive unit mix in an area that has long been known for its historical significance and fantastic location. The Property presents new ownership a significant opportunity to complete construction on the building interior delivering luxury apartment product to young professionals and families. The property is largely through construction with brand-new TPO roof, elevator, framing, historic windows, plumbing, electrical, and sprinkler fire protection already installed. 

Tenants have access to a wide variety of shopping and dining options on Walnut, Chestnut, and Market Streets. The Portfolio is also located minutes from major highway routes such as I-95, I-76, and I-676, presenting unparalleled access throughout the Philadelphia MSA. Furthermore, tenants are one block from the 2nd Street Train Station on the Market-Frankford Line, carrying commuters to employers in Center City Philadelphia in less than 10 minutes. The Property at 115-117 North 3rd Street is well-positioned to service a growing tenant base looking for luxury units in a market that continues to be a top choice for Philadelphia renters. 

Key Facts

Significant Value-Add Opportunity: Complete Construction on a Class A Boutique Property

Desirable Unit Mix: A Mix of Studio, One-Bedroom and Two-Bedroom Units

Access to Major Highways: Direct Access to I-95, I-676 and I-76
Access to Public Transportation: Proximity to SEPTA Market-Frankford Train Line

Highly Amenitized Location: Adjacent to Critically-Acclaimed Neighborhood Shopping and Dining

Team

Ken Wellar

Founding Partner
Direct Office - (215) 454-2879
Fax - 267.324.3394

Alan Krawitz

Associate Director
Direct Office - (267) 323-4803
Fax - 267.324.3394

Kyle McShane

Associate
Rittenhouse Realty Advisors
215.454.2921

Corey Lonberger

Founding Partner
Main Office - 215.454.2878
Fax - 267.324.3394

Mark Duszak

Managing Director
Main Office - 215.454.2884
Fax - 267.324.3394

Douglas Emrich

Associate Director
Main Office - (215) 454-2889
Fax - 267.324.3394