1335 North Marston Street

Philadelphia, PA 19121

$2,590,000
Last Sold Price
Beds
11,571 Sq. Ft.
$224 / Sq. Ft.
11,571
Sq. Ft.
$224
per Sq. Ft.

Description

Introducing Penny Arcade Apartments, a best in class boutique multifamily investment property in Philadelphia's booming Brewerytown neighborhood by Fairmount Park. Each newly constructed spacious apartment features luxury design and contemporary features such as waterfall edge quartz, subway tile backsplash, floating vanities, wide plank flooring, oversized windows, high ceilings, neutral palettes, upgraded appliances and more. Elevator, rooftop terrace with panoramic skyline views, basement storage...Introducing Penny Arcade Apartments, a best in class boutique multifamily investment property in Philadelphia's booming Brewerytown neighborhood by Fairmount Park. Each newly constructed spacious apartment features luxury design and contemporary features such as waterfall edge quartz, subway tile backsplash, floating vanities, wide plank flooring, oversized windows, high ceilings, neutral palettes, upgraded appliances and more. Elevator, rooftop terrace with panoramic skyline views, basement storage included. Two units per floor in an optimally planned property that could easily be converted to luxury condos. The average unit size is over 1000 SF per apartment, a rarity in today's multifamily market. Six (6) 2 bedrooms and two (2) 3 bedrooms. 5.6% cap rate with a 6.2% pro forma cap rate based on market rate rents. Big rental upside for new owner. 10 year tax abatement (through 2029). This is the first in a collection of newly developed amenitized properties to be offered on the block, allowing investors the opportunity to purchase and maintain a critical mass of primely located luxury apartment buildings in one of Philly's fastest growing locations. Easy access into downtown Philly, University City, Fairmount Park and more. Walkable to bars, restaurants, breweries, cafes and shops along the Girard Avenue retail corridor.

Listing Agent

  1. Ryan McManus

    Ryan McManus

    Listing Agent

    Compass

Property Details for 1335 North Marston Street

Tax ID Number
881822817
Ownership
Fee Simple
Structure Type
Interior Row/Townhouse
Style
Contemporary
Waterfront
No
Views
City
Garage
No
Expected On Market Date
09-24-2021

Location

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LISTING UPDATED: 05/06/2022 04:04 PM

Property Details for 1335 North Marston Street

StatusClosed
MLS #PAPH2027458
Days on Market32
Taxes$1,792 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti-Family / Fee Simple
Year Built2018
Lot Size0.08 AC / 3,700 SF
CountyPhiladelphia County

Location

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Building Information for 1335 North Marston Street

Stories-Residences4Year Built2018Building Size-Lot Size0.08 AC / 3,700 SF

Payment Calculator

$14,284 per month

30 year fixed, 7.25% Interest

Principal and Interest

$14,135

Property Taxes

$149

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1335 North Marston Street

Location
Location
  • School District Name: THE SCHOOL DISTRICT OF PHILADELPHIA
  • School District County ID: 300200397108
  • SchoolDistrictSource: Listing Agent
  • County: PHILADELPHIA
  • MLS Area: 19121 (19121)
Waterfront / Water Access
Waterfront / Water Access
  • Water View: No
  • Water Access: No
  • Water Oriented: No
  • Navigable Water: No
  • Tidal Water: No
  • Riparian Rights Y/N: No
Taxes and Assessment
Taxes and Assessment
  • Tax Year: 2021
  • Tax Assessed Value: $128,000
  • Year Assessed: 2021
  • County Tax: $0
  • Improvement Assessed Value: $0
  • City Town Tax: $809
  • Land Assessed Value: $128,000
  • Clean Green Assessed: No
  • Land Use Code: CA0
  • Zoning: RM1
  • Tax Lot: 195
  • School Tax: $983
  • Automatically Update Tax Values Y/N: No
Lease Information
Lease Information
  • Concessions: No
Unit Information
Unit Information
  • Single Room Units Count: 0
  • One Bedroom Units Count: 0
  • Two Bedroom Units Count: 6
  • Three Bedroom Units Count: 2
  • Other Units: Unit 1,Unit 2,Unit 4,Unit 5,Unit 8,Unit 3,Unit 6,Unit 7
  • Units Leased Count: 8
  • Rent Control: No
Multi Family
Unit 1
  • Type: Unit 4
  • Unit Type Occupied YN: Yes
  • Level: 2
  • Unit Type Finished SQFT: 1117
  • Unit Type Lease Type: Yearly
Unit 2
  • Type: Unit 5
  • Unit Type Occupied YN: Yes
  • Level: 3
  • Unit Type Finished SQFT: 1204
  • Unit Type Lease Type: Yearly
Unit 3
  • Type: Unit 2
  • Unit Type Occupied YN: Yes
  • Level: 1
  • Unit Type Finished SQFT: 997
  • Unit Type Lease Type: Yearly
Unit 4
  • Type: Unit 7
  • Unit Type Occupied YN: Yes
  • Level: 4
  • Unit Type Finished SQFT: 1117
  • Unit Type Lease Type: Yearly
Unit 5
  • Type: Unit 8
  • Unit Type Occupied YN: Yes
  • Level: 4
  • Unit Type Finished SQFT: 1117
  • Unit Type Lease Type: Yearly
Unit 6
  • Type: Unit 6
  • Unit Type Occupied YN: Yes
  • Level: 3
  • Unit Type Finished SQFT: 1117
  • Unit Type Lease Type: Yearly
Unit 7
  • Type: Unit 3
  • Unit Type Occupied YN: Yes
  • Level: 2
  • Unit Type Finished SQFT: 1204
  • Unit Type Lease Type: Yearly
Unit 8
  • Type: Unit 1
  • Unit Type Occupied YN: Yes
  • Level: 1
  • Unit Type Finished SQFT: 1060
  • Unit Type Lease Type: Yearly
Financial Information
Financial Information
  • Net Operating Income: $149,000
  • Cap Rate: 5.60
  • Existing Lease Type: Yearly
Building Info
Building Info
  • Building Level Count: 4
  • Building Units Total: 4
Lot / Land Information
Lot / Land Information
  • Lot Size Source: Estimated
  • Lot Size Dimensions: 37.00 x 100.00
  • Lot Dimensions Source: Estimated
  • Location Type: Urban
  • Parcel ID: 1057839
Parking
Parking
  • Type Of Parking: None
Interior Features
Interior Features
  • Accessibility Features: Elevator
Exterior Features
Exterior Features
  • Pool: No Pool
Utilities
Utilities
  • Heating: Yes
  • Cooling Type: Central A/C
  • Cooling Fuel: Natural Gas
  • Heating Type: Central
  • Heating Fuel: Natural Gas
  • Hot Water: Natural Gas
  • Water Source: Public
  • Sewer Septic: Public Sewer
Confidential Data
Listing Office
  • List Agent AOR: Greater Philadelphia Association of REALTORS

Property History for 1335 North Marston Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Schools near 1335 North Marston Street

This home is within Philadelphia City School District.
Rating
School
Type
Grades
Distance
Public - PK to 8
Public - 9 to 12
Public - 7 to 12
Public - 5 to 12
Rating
School
Distance
Morris Robert School
PublicPK to 8

Vaux HS: A Big Picture School
Public9 to 12

Carver High School
Public7 to 12

Masterman Julia R Secondary School
Public5 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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Similar Sold Homes

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Based on information from one of the following Multiple Listing Services: BRIGHT, Greator Scranton Board of REALTORS®. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by BRIGHT, Greator Scranton Board of REALTORS® is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.