Amy Raams - Coldwell Banker Hearthside
1839-43 N 6th St
PHILADELPHIA, PA 19122

Description

12 New Construction 2bd units in booming South Kensington! The Quads at Kensington South (South Kensington aka SoKo) ~ ***Details: Collection of THREE (3) contiguous 4-unit 3-story boutique condo buildings (3 quadplexes) ~ SIX (6) different spacious two-bedroom floorplans/layouts ~ Luxury-grade design: "for sale" caliber finishes, fixtures, features (FFF) ~ dedicated outdoor space for each residence: grass yard, patio, deck, roofdeck ~ 10yr tax abatement ~ 1yr builders warranty ~ Ground broke May 2018; completion October 2018 ~ ***Unit Mix: Unit A = 2bd/1ba + grass yard [1500] ~ Unit B = 2bd/1ba + patio (1843 N 6th); 2bd/1.5ba + patio (1839-41 N 6th) [1650-1800] ~ Unit C = 2bd/2ba + deck [2000] ~ Unit D = 2bd/1.5ba + deck + dedicated roofdeck (1843 N 6th); 2bd/2ba + deck + dedicated roofdeck (1839-41 N 6th) [2000-2200] ~ ***Financials: Projected rent roll = 22,150/mo (265,800/yr) ~ Projected expenses = 40,000/yr ~ Projected NOI = 225,800 ~ Pro forma cap rate = 6.8. ~ Sales price per unit (PPU) = 275,000 ~ Total project sales price = 3,300,000 ~ ***Pro Forma Rent Roll: 3x at 1500 = 4500 ~ 2x at 1800 = 3600 ~ 1x at 1650 = 1650 ~ 3x at 2000 = 6000 ~ 1x at 2000 = 2000 ~ 2x at 2200 = 4400. See summary PDF in attachments section.

Details

MLS#1001800732
Sub-TypeResale
StatusActive
Year2018
Days On Site68

Features

Market Activity 19122

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Area Information

StatePA
CityPHILADELPHIA
Zip Code19122
Area19122 (19122)
Listing VS Median (in 19122)
Price:
$3,300,000
low | high
Med:
$189,000
100% of Average
On Site:
68
low | high
Med:
98
69.387755102041% of Average
Listing Updated: 08/13/2018
MLS Number: 1001800732
Listing Provided By:
Ryan J McManus  of  BHHS Fox Roach-Center City Walnut

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