710 American StPhiladelphia, PA 19147

Property Details for 710 American St

Year built

1900

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.23 AC

Property size (Sq ft)

30,250 SF

Zone code

RM1

Property type

Residential income properties

Property subtype

Other apartment buildings

APN

88-1-5718-50

APU

881571850

Description

Bainbridge Lofts, located at 710 S American St, Philadelphia, PA 19147, presents a unique investment opportunity in the desirable Queen Village neighborhood. This turnkey, stabilized apartment building boasts 13 units within a single building, totaling 30,250 square feet. Each unit features desirable amenities including hardwood floors, stainless steel appliances, quartz countertops, and exposed brick and beam, creating a high-demand living space. The property includes a private, secure garage with 30 parking spaces, a significant advantage in an urban setting. The building's redbrick facade and well-maintained street contribute to strong curb appeal. Currently, the property benefits from assumable financing at a 4.85% interest rate, extending through November 1st, 2027, with a five-year extension option available until 2032 (subject to lender approval). The asking price is $4,750,000, translating to $365,384.62 per unit and $157.02 per square foot. Situated in a walkable location near restaurants, cafes, parks, and shops, and with convenient access to major roadways, Bainbridge Lofts offers a compelling combination of location, amenities, and financial advantages. The property is zoned RM1 and presents potential for rental upside through future cosmetic enhancements. This is a rare opportunity to acquire a generational blue-chip multifamily asset in a highly sought-after Philadelphia neighborhood.

• CAP approach

  CAP return

  Valuation

  6%

  $12,083,801

  6.5%

  $11,154,278

  7%

  $10,357,543

• Comparable approach

  Method

  Valuation

  Relative Method

  $6,126,321

  Geo Method

  $6,126,321

• Alternative Use

  Use

  Valuation

  Residential

  $11,154,278

  Hospitality

  $10,217,258

  Educational

  $8,500,639

  Medical

  $8,792,989

  Retail

  $13,223,216

Location Insight

City

Philadelphia

County

Philadelphia

State

Pennsylvania

Latitude

39.9401

Longitude

-75.1476

CBSA code

37980

CBSA name

PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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