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.
