2220 Delancey Place | 5 Units

Center City Philadelphia

Overview

  • Offering Price $1,300,000
  • Apartment Units 5
  • Pro Forma Cap Rate 6%
  • Price / Unit $260,000

On behalf of Ownership, GREA is pleased to exclusively offer the opportunity to acquire the fee simple interest in 2220 Delancey Place located in the Fitler Square neighborhood of Center City Philadelphia (the “Property” or “Asset”). The Asset comprises 5 apartment units with (1) studio and (4) one-bedroom floor plans.

The Property presents new ownership with the opportunity to own a turnkey asset in the affluent Fitler Square neighborhood of Philadelphia. 2220 Delancey Place was recently renovated to include a stainless-steel appliance package, subway tile backsplashes, white shaker cabinetry, upgraded standup showers with rain showerheads, and improved lighting. The Property combines a luxury finish with the character of a historic brownstone walk-up.

The Property is in the middle of it all, servicing a growing tenant base looking for a location surrounded by restaurants, coffee shops, and nightlife. Tenants are within walking distance of Fitler Square, Rittenhouse Square, and the Schuylkill River Trail, adding an abundance of green space to a dense residential neighborhood.

2220 Delancey Place is minutes from major highway routes such as Interstate 76, 676, and 95 presenting unparalleled access throughout the Philadelphia MSA. Furthermore, tenants are a short walk into Center City and University City, home to major employers such as Comcast, Aramark, and the University of Pennsylvania Health System.

The Asset provides new ownership the prospect of acquiring a quality turnkey property that has and will continue to perform well into the future.

Convenient to Major Highways: Access to I-95, I-76, and I-676

Abundant Neighborhood Amenities: Mix of Award-Winning Restaurants and Retail

Proximate to Major Employers: Walking Distance of Comcast, CHOP, HUP, and the University of Pennsylvania
Turnkey Investment Opportunity: Renovated Unit Interiors and Common Areas

Desirable Unit Mix: (1) Studio Unit and (4) One-Bedroom Units

Team

Ken Wellar

Ken Wellar

Founding Partner
GREA
215-454-2879
610-745-4800
Alan Krawitz

Alan Krawitz

Associate Director
GREA
267-323-4083
610-420-4559
Corey Lonberger

Corey Lonberger

Founding Partner
GREA
215-454-2878
267-760-3726
Douglas Emrich

Douglas Emrich

Associate Director
GREA
215-454-2889
610-733-8482

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