5500 Haverford Ave - Multifamily Development Site

Highlights

• Clear and Vacant Lot
• Signalized Corner Location
• High demand for rental units
• Easy access to Center City and i76

Description

Total of 12,867sf of land in West Philadelphia zone CA-1 / RSA5. Proposed use to Build 34 Apartment Units, no plans or permits in hand. All due diligence the responsibility of the purchaser.

The prior building was damaged in a building fire and the existing structure was demolished.

Assumptions
-34 800sf Apartments @ $1,100 per month rents
-Sub 20% Expense Ration with Philadelphia Tax Abatement
-Projected NOI: $370,000
-Stabilized Value: $5,300,000 @ 7% Cap Rate

West Philadelphia

Documents