SCOPE Commercial Real Estate Services, LLC ("SCOPE") is pleased to present the opportunity to acquire Frederick Douglas Apartments, a 16-unit mixed use asset over 7,021 square feet of commercial space in the Germantown neighborhood of Philadelphia, PA.
Frederick Douglas Apartments, located at 5600-5606 Germantown Ave, is a 24,585 square-foot property consisting of 16 residential units over two commercial units. The property offers five studios, five one-bedroom, one-bathroom units, and six two-bedroom, one-bathroom units. The average monthly rent is $786 for studios, $775 for one-bedroom units, and $1,020 for the two-bedroom units, resulting in an overall average rent of $870 per unit. New ownership can raise rents to meet the market as is for a 25 percent upside. Additionally, renovating unit interiors could allow for a further 38 percent rent growth.
The commercial unit 5604-5606 is also leased out until 2029 with personal guarantees in place. There is about another $60,000 of upside if the other commercial unit is leased. 5600-02 offers about 3,300 square feet of commercial and 5604-06 offers about 3,700 square feet.
Property Features
Cooling Information
Central Air
Electric
Heating Information
Electric
Central
Water Features
Public
Parking
None
School Information
School Information for 5600 GERMANTOWN AVENUE, PHILADELPHIA, PA 19144
Elementary School
N/A
Middle School
N/A
High School
GERMANTOWN
Listing Courtesy: Scope Commercial Real Estate Services, Inc. - 215-302-4400