1827-1870 N Marston Street, Philadelphia, Pennsylvania 19121
Listing IDPAPH2114846
Price$6,290,000
StatusACTIVE
SqFt
40,000
Acres
0.300
CountyPhiladelphia
Year Built2022
Property TypeCommercial Sale
Property Sub TypeFive Or More Units
The vision behind Marston Walk was conceived when Omega Home Builders purchased a unique assemblage of vacant lots in one of the fasted developing neighborhoods in the City of Philadelphia. On behalf of ownership, now be offered are 17 new construction luxury single-family residences (Phase II & III), all situated on the 1800 block of North Marston St in the Brewerytown/Strawberry Mansion sections of Philadelphia. This turn-key opportunity offers a potential buyer the ability to own 17 SFH (single-family home) residences in a neighborhood where both rent, and equity appreciation outpace comparable sub-markets. With over 30,000 square feet in total, each of the 17 SFH residences comes in at approximately 1,800 square feet and boasts 3 bedrooms, 3 full bathrooms, a finished basement, backyard patio, roof deck, as well as all being laden in luxurious designer finishes by Romi Designs Studio. Each residence comes with a 10-year tax abatement, builder’s warranty and one of the most attractive value propositions of all, the ability for the seller to manage the property portfolio at an attractive rate. Both Brewerytown and Strawberry Mansion are poised for significant upside, mainly due to its proximity to the largest master planned development in the history of Philadelphia. Schuylkill Yards and the 30th Street District are in tandem $3.5 billion and $6.5 billion projects being developed by Brandywine Realty Trust (NYSE - $BDN) in partnership with Drexel University, Amtrak, SEPTA, Pennsylvania Department of Transportation. With Philadelphia positioned a hub for both “eds and meds,” Marston Walk is also conveniently located close to major educational and healthcare institutions such as Temple University, Drexel University, The University of Pennsylvania & The Wharton School of Business. We foresee the potential for asymmetric equity appreciation presenting itself with Marston Walk. Marston Walk is available for purchase as a whole or by phases of the project. The final phase is to be built, expected completion is in Q1 2023. Offering Memorandum is available for qualified investors.
County
Philadelphia
Price/SqFt
157.25
Property Sub Type
Five Or More Units
Property Type
Commercial Sale
Subdivision
BREWERYTOWN
Year Built
2022
Zoning
RSA5
Building Total SqFt Source
Estimated
Central Air
yes
Cooling Type
Central A/C
Flooring Type
Luxury Vinyl Plank, Tile/Brick
Heating
yes
Heating Type
Forced Air
Construction Completed
no
Construction Materials
Advanced Framing, Corrugated Siding, Metal Siding, Cement Siding
Cooling Fuel
Electric
Electric Service
200+ Amp Service
Foundation Details
Concrete Perimeter
Heating Fuel
Natural Gas
Hot Water
Natural Gas
Lot Size Source
Estimated
Lot Size Units
Square Feet
New Construction
yes
Roof
Fiberglass
Sewer Septic
Public Sewer
Tidal Water
no
Type of Parking
On Street
Water Access
no
Water Oriented
no
Water Source
Public
Water View
no
Building Name
NONE AVAILABLE
Country
US
MLS Area
19121 (19121)
Municipality
PHILADELPHIA
Views
City
Waterfront
no
Accessibility Features
None
Building Classification
Class A
Building Permits
On Hand
Business Type
Other
Days on Market
322
Potential Tenancy
Single
Property Condition
Excellent
Property Use
Investment
Year Built Source
Estimated
Acceptable Financing
Cash, Conventional
Annual Gross Expense
59918
Automatically Update Tax Values
no
Cap Rate
6.83
Gross Income
489600
Income Includes
Apartment Rentals
Net Operating Income
429682
Net SqFt
30600
Operating Expense
89535
Operating Expense Includes
Repair/Maintenance, Other, Insurance
Ownership Interest
Fee Simple
Possession
Negotiable
Riparian Rights
no
Sale Type
Standard
Tax Annual Amount
8800
Tax Year
2022
Total Actual Rent
489600
Vacancy Allowance Rate
5
Vacation Rental
no
Listing courtesy of RE/MAX Elite (215) 328-4800
© 2023 Bright MLS. All rights reserved. Information Deemed Reliable, but Not Guaranteed. Listing information is from various brokers who participate in IDX and not all listings may be visible on the site. The property information being provided is for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed. Listing courtesy of RE/MAX Elite. Data last updated on Tuesday, May 30th, 2023 04:14:18 PM.
Contact - Listing ID PAPH2114846
Brett Furman
528 East Lancaster Avenue
St. Davids, PA 19087
Phone: 610-687-6060
Phone Alt: 610-687-6060
Data services provided by IDX Broker
