1100 Godfrey AvePhiladelphia, PA 19141
- Residential income properties
- 45,520 SF
Property Details for 1100 Godfrey Ave
- Year built
- 1965
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 2.33 AC
- Property size (Sq ft)
- 45,520 SF
- Zone code
- RM1
- Property type
- Residential income properties
- Property subtype
- Other apartment buildings
- APN
- 88-1-1509-20
- APU
- 881150920
Description
This exceptional investment opportunity presents a 111-unit apartment building in Philadelphia's East Oak Lane neighborhood, boasting a compelling 7.00% pro-forma cap rate and an asking price of $13,500,000. The property, comprised of two four-story buildings totaling 45,520 square feet on a 101,500 square foot lot, features 111 units averaging $121,622 per unit. Built in 1965, the property has undergone significant renovations, including a complete overhaul of Building #1101's kitchens, HVAC, windows, and floors in 2010, with the top floor renovated within the last 6-7 years. Further improvements within the last 10 years include solar panel installation across both buildings, new individual heating and cooling units in Building #1100, a new fitness center, and a common laundry room. The property is zoned RM-1 and benefits from its strategic location near Routes 1 and 611, providing easy access to public transportation via the Rock Transportation Center. The East Oak Lane neighborhood offers historical charm, green spaces, and active community associations. This well-maintained property presents a strong investment opportunity with potential for significant rental increases
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $9,332,011
- 6.5%
- $8,614,164
- 7%
- $7,998,867
-
Comparable approach
- Method
- Valuation
- Relative Method
- $9,218,847
- Geo Method
- $9,218,847
-
Alternative Use
- Use
- Valuation
- Residential
- $8,614,164
- Hospitality
- $7,890,528
- Educational
- $6,564,827
- Medical
- $6,790,602
- Retail
- $10,211,953
Location Insight
- City
- Philadelphia
- County
- Philadelphia
- State
- Pennsylvania
- Latitude
- 40.046
- Longitude
- -75.1385
- CBSA code
- 37980
- CBSA name
- PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
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