Help

204 W GEORGE ST
PHILADELPHIA, PA 19123

$10,530,000 
  • -- Beds
  • -- Baths
  • 38,104 sqft
  • Commercial
  • Active
204 W GEORGE ST, PHILADELPHIA - 48068744
204 W GEORGE ST, PHILADELPHIA - 48068745
204 W GEORGE ST, PHILADELPHIA - 48068746
204 W GEORGE ST, PHILADELPHIA - 48068747
204 W GEORGE ST, PHILADELPHIA - 48068748
204 W GEORGE ST, PHILADELPHIA - 48068749
204 W GEORGE ST, PHILADELPHIA - 48068750
204 W GEORGE ST, PHILADELPHIA - 48068751
204 W GEORGE ST, PHILADELPHIA - 48068752
204 W GEORGE ST, PHILADELPHIA - 48068753
204 W GEORGE ST, PHILADELPHIA - 48068754
204 W GEORGE ST, PHILADELPHIA - 48068755
204 W GEORGE ST, PHILADELPHIA - 48068756
204 W GEORGE ST, PHILADELPHIA - 48068757
204 W GEORGE ST, PHILADELPHIA - 48068758
204 W GEORGE ST, PHILADELPHIA - 48068759
204 W GEORGE ST, PHILADELPHIA - 48068760
204 W GEORGE ST, PHILADELPHIA - 48068761
204 W GEORGE ST, PHILADELPHIA - 48068762
204 W GEORGE ST, PHILADELPHIA - 48068763
204 W GEORGE ST, PHILADELPHIA - 48068764
204 W GEORGE ST, PHILADELPHIA - 48068765
204 W GEORGE ST, PHILADELPHIA - 48068766
204 W GEORGE ST, PHILADELPHIA - 48068767
204 W GEORGE ST, PHILADELPHIA - 48068768

Property Description for 204 W GEORGE ST, PHILADELPHIA PA 19123

This is an opportunity to acquire a rarely offered portfolio of eighteen (18) 3-story spacious townhomes with 4bd/2.5ba, highly coveted garage parking, and impressive skyline city view roofdecks. The portfolio is located on the best blocks in the desirable Philadelphia submarket of Northern Liberties. Light cosmetic improvements will drastically improve the properties, allowing them to be repositioned as individual "for sale" townhomes to be sold to retail homebuyers in a Philadelphia market critically under-supplied with quality "for sale" housing. Homebuyer demand has far exceeded the availability of homes in Philadelphia, which has created a true owner's market and a highly competitive market, especially over the last 36 months. Northern Liberties is perennially a leader in residential sales citywide and is widely known for having some of the most innovative new developments and architectural styles in the Greater Philadelphia region. With an average in-place rent of 2,851/unit (1.35/PSF), the properties are also positioned near-term for strong rent growth. And alternatively, the portfolio can be acquired simply as an income-producing investment package, as the properties are currently fully-leased and low maintenance. Traditionally, the homes were marketed as 3bd units; moving forward, the fully-finished lower level living space can be considered a fourth bedroom for both sale/rental purposes allowing the new owner to capture additional sales proceeds/rental income if marketed for sale/lease on a "bedroom count" basis. 16 of 18 of the properties are zoned CMX3 which in Philadelphia is the most coveted zoning designation available ? making this portfolio an even further "value-add" opportunity for increased density, as the properties were not originally built to max density. And the properties are located within a 7-minute walk to the SEPTA Market-Frankford El station connecting to downtown Philadelphia, making this a "transit-oriented" portfolio. The townhomes have been traditionally fully-leased on annual terms by tenants, given the prime NoLibs location just off Liberties Walk. Northern Liberties is the 3rd wealthiest area in the entire city of Philadelphia ? a bona fide luxury residential and hip commercial submarket. Heavy NY influence is present. Full offering memorandum available upon request. Please note there are 18 units total, trend allows just 9 units! Properties can be apportioned and total SF = 38K+ SF. See offering memorandum attached.

  • Property Class: Commercial
  • Listing Status: Active
  • City: PHILADELPHIA
  • State: PA
  • Zip: 19123
  • Area: Philadelphia – 19123
  • Class: Commercial
  • Approx Lot Size: 0.370
  • Baths (F/H): -- / --
  • Living Area (SqFt): 38,104 sqft
  • Lot Sq Ft Apx: 16265.00
  • Year Built: 2010
  • Listing#: 7226623
  • School District: Philadelphia
  • Tax Year: 2018
  • List Date: 7/31/2018
  • Last updated on: 8/19/2018

Property Features for 204 W GEORGE ST, PHILADELPHIA PA 19123

  • Building Or Business: Resinvestmnt, Apartmnt BLD
  • Sewer Septic: Public Sewer
  • Property Age: 8
  • Water: Public
  • Exterior: Brick
  • Floor: Tile/Brick, Vinyl

Additional Information for 204 W GEORGE ST, PHILADELPHIA PA 19123

  • School District: Philadelphia
  • Building Floors: 3.00
  • Buildings: 18
  • Interior Square Feet Source: L
  • Land Only: False
  • Lot Dimensions: 324X48
  • Lot Number: 176
  • Ownership: Fee Simple
  • Property Option: Sale
  • Total Assessment: 132884.00
  • Water Front: False
  • Total Taxes: $1,860
  • Building Name: The Piazza Townhomes
  • Listing Area: Philadelphia – 19123
  • Subdivision: Northern Liberties
  • Annual Gross Expense: 87141.00
  • Annual Gross Income: 615816.00
  • Listing ID: 7226623
Courtesy of Ryan McManus, BHHS Fox & Roach-Center City Walnut
Data relating to real estate for sale on this website appears in part through the TREND IDX program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which BHHS Fox & Roach participates, and is provided by TREND through a licensing agreement. Real estate listings held by brokerage firms other than BHHS Fox & Roach are marked with the IDX/IDX PLUS icon & detailed information about each listing includes the name of the listing broker. The information provided by this website is for the personal, non-commercial use of consumers & may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale on this website may no longer be available because they are under contract, have sold or are no longer being offered for sale. © 2016 TREND, all rights reserved. Information deemed reliable, but not guaranteed.