5542 RIDGE FLATS & THE JAMES Portefeuille de immeuble residentiel à vendre 2 biens 20 767 200 € Philadelphia, PA

Global Real Estate Advisors (GREA) extends to well-qualified investors the unique opportunity to acquire the fee simple interest in 5542 Ridge Flats at 5542-44 Ridge Avenue, and The James at 5938 Henry Avenue (the “Properties or the “Portfolio”). These newly constructed Properties comprise 82 total apartment units, fronting the Ridge Avenue and Henry Avenue Corridors in the rapidly gentrifying Roxborough/Manayunk section of Philadelphia.
Roxborough/Manayunk is booming with development due to its strategic location. It sits west of highly affluent Chestnut Hill, east of Philadelphia’s prestigious Main Line, and south of the suburban hub of Conshohocken. Unlike other resurgent neighborhoods in Philadelphia (such as Northern Liberties and Fishtown), Roxborough/Manayunk enjoys easy access to Center City via the Wissahickon, Manayunk, and Ivy Ridge Stations on the SEPTA Manayunk/Norristown Line, which sits in very close proximity to both Properties.
The Assets are newly constructed, three-story buildings with an elevator and large roof deck offering panoramic views of Philadelphia’s Center City skyline. The Portfolio offers an attractive unit mix with 4% studios, 70% one-bedroom units, 24% two-bedroom units, and 2% three-bedroom units. All of the units feature +9-foot ceilings with high-end finishes such as stainless steel appliances, stone countertops, modern baths, ample closet space, in-unit washer/dryer, and oversized windows allowing an abundance of natural light.
There is assumable debt in place at the rate of 5.6% with interest-only payments due through September 2029 (see Offering Memorandum for more details).