5100 Walnut Street, Philadelphia, Pennsylvania 19139

Listing IDPAPH2180706
SqFt 34,600
Acres 0.290
Year Built1911
Property TypeMulti Family
Property Sub TypeOther
Pre-war apartment buildings rarely come to the market. The 49 unit La Blanche is walking distance to U Penn, Drexel and University of the Sciences. Ninety-five percent currently leased gives the ability to continue with cash flow and then add value as tenants end leases (most are month to month) and then raise rents to the current market rates. This corner property measures approximately 150 feet by 118 feet and extends from Walnut to Chancellor, in a rapidly developing area bringing rent growth and building appreciation. The property consists of six (6) studios, thirty-six (36) one bedroom, six (6) two bedrooms and one (1) three-bedroom apartment. This Georgian Revival Style broke ground in 1910 and was part of the second wave of a housing boom in West Philadelphia that started with the 1907 completion of the Market Street Elevated line. The building is one of the first large apartments built in Philadelphia, with a striking facade. Location awareness: In general, the University City section has become one of the fastest growing sub-markets in all of Philadelphia. Over $3.5 billion of new or recently completed real estate projects have transformed this area into a hub of “Eds and Meds”. University City attracts undergraduate and graduate students as well as young professionals and families. The area is highly desirable given its walk-ability to the numerous major educational and healthcare institutions such as The University of Pennsylvania, University of the Sciences, CHOP, Drexel University and The Wharton School of Business. Situated near an abundance of public transportation with various bus routes, trolley lines, and the Market-Frankfort line within a short walking distance. The project is uniquely positioned in the path of growth and ready to see significant rent increases in the coming years therefore offering a good rental upside. Perfect for a 1031 exchange. Inquire within for OM.
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#IDX-primaryPhoto,#idx-details-headerListed by: Keller Williams Philadelphia (215) 627-3500

Contact - Listing ID PAPH2180706

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Brett Furman

528 East Lancaster Avenue
St. Davids, PA 19087
Phone: 610-687-6060
Phone Alt: 610-687-6060

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