4700 Stenton Avenue , Philadelphia, PA 19144Asking Price of: $3,500,000

Presenting the unique opportunity to acquire the fee simple interest in 4700 Stenton Avenue located in the Germantown neighborhood of Philadelphia, Pennsylvania. Germantown is a well-established residential submarket known for its strong rental demand, accessibility, and proximity to major employment centers throughout Northwest Philadelphia and Center City. 4700 Stenton Avenue is an adaptive reuse property consisting of 26 apartment units, featuring a mix of 58% one-bedroom units and 42% two-bedroom units. The Property offers functional layouts and modern kitchens with an industrial feel, providing residents with comfortable living spaces in a stable, workforce housing environment. The Property is currently 88% occupied with an average in-place rent of $995 per unit, demonstrating consistent tenant demand within the submarket. Based on the current rent roll and pro forma, there is meaningful upside potential through lease-up of vacant units and mark-to-market rent increases. The asset provides investors with stable in-place cash flow and the opportunity to increase net operating income through operational improvements, improved occupancy, and continued rent growth. It is expected to grow steadily as the surrounding neighborhood continues to gentrify.