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185-191 E Walnut Ln
Philadelphia, PA 19144 East Germantown

$3,805,000 USD

Apartments For Sale  •  21,900 SF

Property Details

  • Property Type Apartments
  • Total Building Size 21,900 SF
  • Lot Size 0.62 AC
  • Building Class C
  • Year Built 1959
  • Zoning R-12 or RTA-1
70 Transit Score
80 Walk Score

Highlights

22-Unit Multifamily Asset | Germantown neighborhood of Philadelphia
Strong Cash Flow | 7% Cap Rate with Government-Backed Subsidies
Long-Term HAP Contract with HUD | 14 years remaining on term. Contract expires June 24, 2039
Annual Rent Escalations | Rents are eligible for annual increases through HUD’s Operating Cost Adjustment Factor(OCAF)
Additional Upside through Land Development | Potential to Develop 4 Duplexes or 8 Additional Units; Total Unit Count Can Increase to 30 Units
Transit-Oriented Location | Convenient access to SEPTA Regional Rail, multiple bus routes, and proximity to major roadways

Amenities

  • Air Conditioning
  • Heating
  • Kitchen

Public Transportation

Commuter RailDriveWalkDistance
Washington Lane (R7 - Southeastern Pennsylvania Transportation Authority Regional Rail (SEPTA Regional Rail)) 2 min 12 min 0.6 mi
Germantown (R7 - Southeastern Pennsylvania Transportation Authority Regional Rail (SEPTA Regional Rail)) 2 min 13 min 0.6 mi
AirportDriveWalkDistance
Philadelphia International 34 min - 17.8 mi
Trenton Mercer 54 min - 31.0 mi

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 11
Type: Surface
Included in Rent: Yes
Joe Loonstyn 267-252-0223 SCOPE
Joe Loonstyn 267-252-0223 SCOPE