For Sale
$1,700,000

6327 Musgrave StPhiladelphia, PA 19144

67-Unit Apartment Building, Shovel-Ready

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional Class A multifamily investment opportunity presents a fully approved 67-unit apartment building development site at 6327 Musgrave St, Philadelphia, PA 19144. The property boasts a total of 56,140 square feet and is priced at $1,700,000, offering a compelling 8.00% cap rate. Detailed plans are in place, encompassing a diverse unit mix designed to maximize occupancy and rental income. The approved plans include 3 studio units, 42 one-bedroom units, and 22 two-bedroom units, catering to a broad range of renters. Importantly, a tax abatement has already been secured, significantly reducing the financial burden and enhancing the project's overall profitability. This shovel-ready status minimizes pre-construction delays and allows for a swift commencement of the building process. Adding to its appeal, the seller is open to collaborating with the buyer to complete the construction, offering a unique opportunity for a streamlined and potentially cost-effective development process. This prime Philadelphia location provides excellent access to amenities and transportation, ensuring strong tenant demand. Detailed plans and further information are available upon request. This is a rare chance to acquire a high-yield, low-risk multifamily investment in a thriving urban market. Don't miss this opportunity to capitalize on this exceptional development project.

Highlights

  • Shovel-ready 67-unit multifamily development site in Philadelphia, PA.
  • Approved plans include 3 studio, 42 one-bedroom, and 22 two-bedroom units totaling 56,140 square feet.
  • Approved tax abatement.
  • Seller will collaborate on construction.
  • $1,700,000 asking price with an 8.00% cap rate.

Property Details for 6327 Musgrave St

Property type
Apartment buildings
Square Feet
56,140 SF
Class
A
Units
67

Location Insight

City
Philadelphia
County
Philadelphia
State
Pennsylvania
Latitude
40.049652599145
Longitude
-75.175877118452
6327 Musgrave St, Philadelphia, Pennsylvania

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6327 Musgrave St
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