ACTIVE

710-16 S American St

Philadelphia PA, 19147

$4,900,000


$161.98 per sqft

ACTIVE

30,250 sqft

Commercial

Built in 1900

Introducing "Bainbridge Lofts" at 710-16 South American Street: a turnkey, stabilized loft apartment building located in the coveted Queen Village submarket of Philadelphia, Pennsylvania. With 13 units and 30 parking spaces in a private, secure garage, Bainbridge Lofts provides residents with the ultimate urban lifestyle rooted in convenience and character. With exposed brick and beam throughout the property, tenants feel instantly at home, tucked away on a quiet, extremely well-maintained street (the property runs from South 3rd Street to American Street) in a location that's walkable to many of the city's top restaurants, cafes, parks and shops. Hardwood floors, stainless steel appliances, quartz countertops, spiral staircases, shaker cabinetry and exposed ductwork lend additional interior appeal, while the redbrick facade provides immediate curb appeal. Assumable financing is in place (subject to lender approval) with a highly-attractive 4.85% interest rate through November 1st 2027, with a 5-year extension option available through 2032. Generational blue-chip multifamily assets such as Bainbridge Lofts rarely come to market due to limited supply in the residential neighborhoods they inhabit. Tangible rental upside exists for new ownership to raise rents via cosmetic enhancements if desired. This could be done on an unobtrusive basis (unit by unit rather than full building) so as to not disturb the existing tenant base. Located just outside of the urban core in a tranquil setting with convenient connections to all of Philly's main arteries and roadways, Bainbridge Lofts is positioned for sustainable demand for decades to come.

PAPH2351692

MLS ID

May 18, 2024

Updated

Map

710-16 S American St
Philadelphia PA, 19147

Interior Features

Appliances

Electric Water Heater


Fireplace

No


Cooling

Yes


Cooling Description

Central Air


Heating

Yes


Heating Description

Central, Electric

Exterior/Building Features

Lot Size

0.23 Acres


Sewer

Public Sewer

Other Property Details

Area Name

PHILADELPHIA


Taxes

$53,924


Tax Frequency

Annually


Days on Market

12


Garage

No


Parking Total

30


View

No


County

PHILADELPHIA


Water Source

Public


Pool

No


Buyer Agency Compensation

2%

Listed by Ryan J McManus, Vincent Tagliente with Compass Pennsylvania, LLC
Listing Contact: 6106061095 

The IDX display contains information sourced from the Bright MLS, Inc. as of 5/18/2024. This data is intended solely for personal, non-commercial use and is not to be utilized for any other purposes except to identify potential properties for purchase. Although the MLS data displayed is typically considered reliable, it is not guaranteed to be accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and are advised to conduct their own investigations or seek professional assistance. Other sources besides the Listing Agent may have contributed to the MLS data presented. Unless expressly specified in writing, the Broker/Agent has not confirmed any information obtained from external sources. The Broker/Agent may or may not have acted as the Listing and/or Selling Agent and cannot guarantee the accuracy of property locations displayed on any map. Any compensation offers are solely made to participants of the MLS where the listing is registered.

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Data last updated on 5/18/2024 at 9:09 PM UTC

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