Contacts
Ken Wellar
GREA
(215) 454-2879
Corey Lonberger
GREA
(215) 454-2878
Alan Krawitz
GREA
(267) 323-4083
Douglas Emrich
GREA
(215) 454-2889
Property Details
- Property Type Other
- Units 10
- Year Built 1910
- Date Updated Apr 26, 2024
- Website 503south41ststreet.sharplaunch.com
On behalf of ownership, GREA extends to investors the opportunity to acquire the fee simple interest in a 10-unit multifamily property situated at 503 South 41st Street. Located in the Spruce Hill section of University City Philadelphia, the Property attracts a highly educated tenant base that wants to be strategically located near the University of Pennsylvania, Drexel University, St. Joseph’s University, Penn Medicine, and the Children's Hospital of Philadelphia.
The Property presents new ownership with a significant value-add opportunity to increase rents by executing a variety of renovation plans from light renovation to a full gut of the apartment units and common areas.
Tenants have access to a wide variety of shopping and dining options in the Spruce Hill neighborhood, including numerous coffee shops and restaurants situated along the Baltimore Avenue corridor. The Property is located within minutes from major transportation routes including I-95, I-76, and I-676, presenting unparalleled access throughout the Philadelphia MSA. Additionally, tenants are just a 5-minute walk to The 42nd and Baltimore Street Station on the SEPTA Green Line Trolley carrying commuters to Center City, 30th Street Station, and the Philadelphia Suburbs.
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Highlights
- Significant Value-Add Opportunity: Renovate the Asset to a Luxury Standard
- Eds and Meds Tenant Base: Housing for Highly Educated Young Professionals
- Proximity to Major Institutions: Blocks from UPenn, Drexel, Penn Medicine & CHOP
- Access to Major Highways: Direct Access to I-95, I-676, and I-76
- Transit Friendly: Bus Stop at Front Door, Convenient to Light Rail Lines
Getting around
-
96/100
Walk Score ®
-
93/100
Transit Score ®
-
96/100
Bike Score ®
Location
- City Philadelphia, PA
- Neighborhood Spruce Hill
- Zip Code 19104
- Market Philadelphia
Points of Interest
-
40th Street
0.18 miles
-
40th Street & Market Street
0.19 miles
-
40th Street & Filbert Street
0.21 miles
-
36th Street & Market Street
0.24 miles
-
36th Street Portal
0.25 miles
-
36th St
0.26 miles
-
Lancaster Avenue & Powelton Avenue
0.29 miles
-
Lancaster Avenue & 38th Street
0.29 miles
-
36th Street & Lancaster Avenue
0.31 miles
-
Lancaster Avenue & 36th Street
0.31 miles
-
Getty Gas
0.30 miles
-
BP
0.60 miles
-
Sunoco
0.81 miles
-
Sunoco
0.92 miles
-
Gas & Mini Mart
0.99 miles
-
Exxon
1.18 miles
-
Sunoco
1.18 miles
-
Sunoco
1.43 miles
-
Sunoco
1.58 miles
-
BP
2.03 miles
-
Presbyterian Garage
0.11 miles
-
40th Street Parking Lot
0.25 miles
-
K99-Lot
0.29 miles
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Spruce Garage
0.31 miles
-
CHOP Visitor Parking
0.33 miles
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C - Lot
0.33 miles
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P-Lot
0.40 miles
-
Drexel Lot G
0.41 miles
-
Lot 37
0.42 miles
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Lot 38
0.42 miles
-
Hilton Inn at Penn
0.24 miles
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Sheraton Philadelphia University City Hotel
0.27 miles
-
Homewood Suites University City
0.37 miles
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The Gables
0.96 miles
-
The Rittenhouse Hotel
1.41 miles
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Motto by Hilton
1.46 miles
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Pod Philly Hotel
1.47 miles
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Four Seasons Hotel Philadelphia at Comcast Center
1.48 miles
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Sonesta Philadelphia Rittenhouse Square
1.52 miles
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The Logan Philadelphia, Curio Collection by Hilton
1.52 miles
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Acme
0.24 miles
-
Shops at 40th Street
0.31 miles
-
Giant
0.37 miles
-
Eight Brothers
0.51 miles
-
Supremo Foodmarket
0.56 miles
-
Store
0.65 miles
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ALDI
0.79 miles
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The Fresh Grocer
1.14 miles
-
Trader Joe's
1.19 miles
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Giant Heirloom Market
1.24 miles
In-Depth Research Available for this Property
Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.
