5100 WALNUT STREET

PHILADELPHIA, PA, 19139

$7,900,000

$228 per ft²
$7,900,000
$228 per ft²
Active
Active
 - For Sale
carpenters-square
34,600 ft²
property_type
Multi-family
calendar
Built 1911
Pre-war apartment buildings rarely come to the market. The 49 unit La Blanche is walking distance to U Penn, Drexel and University of the Sciences. Ninety-five percent currently leased gives the ability to continue with cash flow and then add value as tenants end leases (most are month to month) and then raise rents to the current market rates. This corner property measures approximately 150 feet by 118 feet and extends from Walnut to Chancellor, in a rapidly developing area bringing rent growth and building appreciation. The property consists of six (6) studios, thirty-six (36) one bedroom, six (6) two bedrooms and one (1) three-bedroom apartment. This Georgian Revival Style broke ground in 1910 and was part of the second wave of a housing boom in West Philadelphia that started with the 1907 completion of the Market Street Elevated line. The building is one of the first large apartments built in Philadelphia, with a striking facade. Location awareness: In general, the University City section has become one of the fastest growing sub-markets in all of Philadelphia. Over $3.5 billion of new or recently completed real estate projects have transformed this area into a hub of “Eds and Meds”. University City attracts undergraduate and graduate students as well as young professionals and families. The area is highly desirable given its walk-ability to the numerous major educational and healthcare institutions such as The University of Pennsylvania, University of the Sciences, CHOP, Drexel University and The Wharton School of Business. Situated near an abundance of public transportation with various bus routes, trolley lines, and the Market-Frankfort line within a short walking distance. The project is uniquely positioned in the path of growth and ready to see significant rent increases in the coming years therefore offering a good rental upside. Perfect for a 1031 exchange. Inquire within for OM.
MLS® ID:
PAPH2180706
Updated:
2/8/23

Interior Features

Total Bedrooms
0
Total Bathrooms
0
Cooling
Central A/C
Heating
Forced Air

Exterior/Building Features

Lot Size
0.29 acres lot
Exterior Features
Sidewalks, Street Lights, Above Grade, Below Grade
Architectural Style
Georgian
Sewer
Public Sewer

School Information

School District
THE SCHOOL DISTRICT OF PHILADELPHIA

Other Property Details

Area Name
19139 (19139)
Taxes
$21436.00
Tax Frequency
per YEAR
Garage
No
Parking
N
View
N
County
PHILADELPHIA
Water Source
Public
Pool
No
Zoning
RM1
Sub Agency Compensation
0
Buyer Agency Compensation
2
Transaction Broker Compensation
0

Courtesy of Keller Williams Philadelphia, Nathan Naness

Listing Contact:  

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Data last updated 1:22 PM UTC, 2/8/23

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