Philadelphia, PA 19130,1710 CAMBRIDGE ST
Philadelphia, PA 19130,1710 CAMBRIDGE ST
Philadelphia, PA 19130,1710 CAMBRIDGE ST
$2,534,000
Est. payment /mo
$2,600,000
2.5%
Est.Price: ?

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11,500 SqFt
SOLD DATE : 04/04/2024

Key Details

Sold Price $2,534,000

Property Type Commercial

Sub Type Five Or More Units

Listing Status Sold

Purchase Type For Sale

Square Footage 11,500 sqft

Price per Sqft $220

Subdivision Francisville

MLS Listing ID PAPH2296306

Sold Date 04/04/24

Originating Board BRIGHT

Year Built 2019

Annual Tax Amount $2,384

Tax Year 2023

Lot Size 3,023 Sqft

Acres 0.07

Property Description

Welcome to 1710 Cambridge: a newly built, blue-chip real estate investment opportunity with assumable 3.7% agency debt (enquire within for details) through 2032. 1710 Cambridge is being offered substantially below replacement cost (land and construction costs) as an expertly designed new multifamily development in the Francisville section of Philadelphia, Pennsylvania developed by expert, industry-leading craftsmen and tradesmen. This cash-flowing, 8-unit apartment building with parking, skyline rooftop terrace and FULL 10 year tax abatement through 2029 is ideal for a 1031 exchange given the strong-growth rental submarket + asset appreciation forecast. Rental rates can likely increase by 10-15% once units turn over, with minimal capital expenditures needed. Furthermore, expenses can be trimmed by 10-15% with hands-on management —further boosting the return on investment for the property. This is a low maintenance, high growth asset. The Francisville location is coveted by renters and investors alike—walkable to Whole Foods, Septa train (Broad Street line) + Downtown Philly. 1710 Cambridge is surrounded by amenities, shops, bars, breweries, restaurants and cafes in adjacent neighborhoods (Fairmount, North Broad District, Brewerytown and Spring Garden). Enquire within for financials.

Location

State PA

County Philadelphia

Area 19130 (19130)

Zoning RSA5

Interior

Hot Water Electric

Heating Central

Cooling Central A/C

Flooring Engineered Wood

Heat Source Electric

Exterior

Garage Spaces 2.0

Waterfront N

Water Access N

Roof Type Fiberglass

Accessibility None

Parking Type Driveway

Total Parking Spaces 2

Garage N

Building

Sewer Public Sewer

Water Public

New Construction N

Schools

School District The School District Of Philadelphia

Others

Tax ID 881799919

Ownership Fee Simple

SqFt Source Estimated

Special Listing Condition Standard

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Bright MLS (BMLS)
Listed by Ryan J McManus • Compass RE
Bought with Neil P Dessecker • RE/MAX One Realty - TCDT

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Karen Wilkinson

+1(732) 599-1938

Agent | License ID: 0343436

Agent License ID: 0343436

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