Contacts
Ken Wellar
GREA
(215) 454-2879
Corey Lonberger
GREA
(215) 454-2878
Douglas Emrich
GREA
(215) 454-2889
Property Details
- Property Type Other
- Units 150
- Year Built 2023
- Date Updated Apr 26, 2024
- Website olympictower.sharplaunch.com
Olympic Tower Apartments is a newly constructed 150-unit residential apartment building in the Walnut Hill section of University City in Philadelphia. This “Class-A”, eight-story building just completed construction and is in “lease-up” with approximately 45% of the units leased. Ownership purchased the property ±10 years ago and meticulously planned and constructed Olympic Tower Apartments with imported materials and a keen eye for detail.
The new luxury residential units boast individual HVAC units, ceiling fans, double-glass/soundproof windows, quartz countertops, fully-equipped kitchens with stainless steel appliances, in-unit washer and dryer (shared laundry facilities also available on each floor), and private balconies (select units).
The building boasts a welcoming lobby, ground-floor parking (41 spots), controlled access to the building as well as each unit, and two elevators. There is 18,000± square feet of amenity space on the top floor featuring a fitness center, a large rooftop deck with two hot tubs, and 360-degree views of the skyline. Additionally, Olympic Tower has a number of green features including LED lighting throughout the property, an ERU ventilation system, heat pump VTAC units, a continuous insulation envelope, NEST programable thermostats, ventless dryers, and Energy Star appliances.
There is ±1,500 square feet of space in the northwest corner of the building that would be ideal for commercial space, thus adding to the amenities offered to tenants as well as increasing a new owner’s NOI.
Olympic Tower Apartments offers a strategic location on the corner of 49th and Spruce Streets. The popular Walnut Hill neighborhood of University City is well served with world-class medical facilities and universities. This area features:
- $3.5B New, Recently Completed, or Planned Real Estate Projects
- 85K+ Jobs
- 5M SF of Office Spaces; Over 90% Occupancy Rates
- 3x Median Home Values Over the Past Decade
- $1.85B R&D Expenditures Among Institutions of Higher Education
- 44% National Institutes of Health Investments in Entire State
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Highlights
- New Luxury Apartments: High-End Finishes, Fitness Center, and Rooftop Lounge
- Excellent Unit Mix: Studio, One-Bedroom, and Two-Bedroom Units
- On-Site Parking: Secure, Off-Street Parking for 41 Vehicles
- Walnut Hill / University City: Most Livable, Walkable, and Bikeable Areas of the City
- Transit-Oriented Location: Access to Multiple Bus and Rail Routes as well as Interstate-76 (the Schuylkill Expressway)
- World-Class Universities & Medical Facilities: UPenn, Drexel, St. Joe's, Penn Medicine, and CHOP
Getting around
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Location
- City Philadelphia, PA
- Neighborhood University City
- Zip Code 19139
- Market Philadelphia
Points of Interest
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Penn Medicine
0.04 miles
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37th Street Station
0.38 miles
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36th St
0.46 miles
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33rd Street
0.51 miles
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34th St
0.54 miles
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36th Street Portal
0.55 miles
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34th Street
0.55 miles
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30th Street
0.58 miles
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36th Street & Market Street
0.59 miles
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40th Street Portal
0.66 miles
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Exxon
0.70 miles
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Sunoco
0.75 miles
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Getty Gas
1.00 miles
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Sunoco
1.17 miles
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BP
1.21 miles
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Gas & Mini Mart
1.25 miles
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Sunoco
1.34 miles
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Sunoco
1.43 miles
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Sunoco
1.56 miles
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Lukoil
1.58 miles
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Penn Museum Garage
0.05 miles
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UPHS Medical Parking Garage
0.30 miles
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Curie Garage
0.31 miles
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E - Lot
0.38 miles
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3499 Civic Center Boulevard
0.38 miles
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Lot 38
0.45 miles
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Lot 39
0.46 miles
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Lot 37
0.47 miles
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Drexel Lot G
0.51 miles
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Spruce Garage
0.52 miles
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Hilton Inn at Penn
0.46 miles
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Sheraton Philadelphia University City Hotel
0.50 miles
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Homewood Suites University City
0.91 miles
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The Rittenhouse Hotel
0.95 miles
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Motto by Hilton
1.08 miles
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Pod Philly Hotel
1.09 miles
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AKA Rittenhouse Square
1.11 miles
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The Gables
1.12 miles
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Radisson Blu Warwick Hotel
1.14 miles
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Sonesta Philadelphia Rittenhouse Square
1.15 miles
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Giant
0.48 miles
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The Fresh Grocer
0.55 miles
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Giant Heirloom Market
0.60 miles
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South Square Market
0.63 miles
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Shops at 40th Street
0.76 miles
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Acme
0.77 miles
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Store
0.88 miles
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Trader Joe's
0.89 miles
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Target
1.04 miles
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Rittenhouse Market
1.07 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.