85 E Sharpnack Street, Philadelphia, PA 19119-2292 $2,450,000

# of Units: 4
Interior Sq. Ft: 12,720
Acreage: 0.15
Age:3 years
Taxes: $2,757
MLS#: PAPH2414060
Subdivision: Mt Airy
Design/Type:
Other

Description

INTRODUCING: 85 EAST — This 9-unit gated new construction apartment community with parking is set back peacefully off the quaint cobbles of Germantown Avenue in Philadelphia’s historic Mount Airy neighborhood in NW PHL. It is a turnkey investment opportunity with an attractive 7.1% cap rate. Comprising 3 contiguous triplex buildings, 85 East features private parking and panoramic rooftop terraces for residents. Each building features two (2) 2bd x 1ba units on the 1st/2nd floors and one (1) 3bd x 2ba unit on the 3rd floor, with private access to the rooftop terrace. The interiors are outfitted with high-end finish kits including quartz countertops, LVP flooring, stainless-steel appliance packages, designer lighting and more. Bright, spacious and airy interiors provide a serene sense of calm inside the buildings. Walkable to Germantown Avenue’s commercial corridor lined with boutiques, shops, breweries, restaurants, cafes and historic structures, 85 East is connected to the fabric of Mount Airy’s eclectic lifestyle. Easy access into Center City and University City by train (3 minutes to Carpenter Station on Chestnut Hill West Septa line) or car (25 minutes to Center City), as well as suburban employment and entertainment districts. Walkable nearby amenities include: Mount Airy Tap Room, Acme, Lovett Memorial Library, Wawa, McMenamin’s, Jansen, Johnson House Historic Site, Weaver’s Way Co-op, Grocery Outlet, Young American Hard Cider and Tasting Room — as well as Wissahickon Valley Park, Chestnut Hill and Historic Germantown. 10 Year Tax Abatement—pay taxes on assessed land value rather than improvements. Minimal expenditures. High-growth rental submarket. BUYER TO VERIFY TAXES, SF, FINANCIALS IN DD.

Taxes: $2,757
Home Assoc: No
Condo Assoc: No
Garage: N
Basement:
Pool: No Pool
School Dist: The School District Of Philadelphia

Features

Utilities
Wall Unit Heating, Electric, Ductless/Mini-Split, Electric, Hot Water - Electric, Public Water, Public Sewer

Garage/Parking
Driveway

Interior
Luxury Vinyl Plank Flooring

Exterior
Concrete Perimeter Foundation, Fiberglass Roof, Brick Exterior

Lot
Flag Lot, Urban, City View, Panoramic View, Scenic Vista View

Contact Information

Listing Courtesy of: Keller Williams Liberty Place , (609) 399-5454, klrw903@kw.com

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Listing data as of 2/27/2025.