Overview

  • Offering Price $8,950,000
  • Pro Forma CAP Rate 6.6%
  • Apartment Units 32
  • Commercial Unit 1
  • Price per Unit $263,235
  • Building Size 42,256 SF

GrandView West, consisting of 32 new apartment units and ground-floor commercial space, is situated in the Powelton Village neighborhood within walking distance of Penn Medicine’s Presbyterian Medical Center, UCity Square, and the Science Center.

The majority two-bedroom property utilizes a “student friendly market rate” leasing strategy boasting high-end finishes including LVT flooring in living areas, stainless steel appliances, stone countertops, subway tile backsplashes, and shaker-style cabinetry. Further, units feature in-unit washers/dryers, private balconies in most of the floor plans, and central HVAC. GrandView is fully amenitized offering residents a gym, lounge, roof deck, outdoor garden, and dog park.

GrandView’s residents are within walking distance of the Main Campus of Drexel University, the rapidly expanding UCity Square, Science Center, and Presbyterian Medical Center. Institutions that are all on the cutting edge of business, technology, and science both nationally and internationally.

GrandView West is located minutes from major thoroughfares including I-76, I-676, and I-95 providing unparalleled access to the Philadelphia MSA. A major light rail station at 40th and Market Street sits blocks away carrying commuters into Center City and the Philadelphia Suburbs via the SETPA Market-Frankford Trainline.

Key Facts

  • — Affordable Luxury Apartment Living: High-End Finishes at an Affordable Price Point
  • — New Construction Asset: Little to No Deferred Maintenance; Turnkey Operation
  • — Highly Amenitized Asset: Roof Deck, Outdoor Garden, Lounge, Gym and Dog Park
  • — Rapidly Gentrifying Powelton Village Location: Increasing Development from University City Expansion
  • — Proximity to Major Institutions: Walk to Penn Presbyterian Medical Center, Drexel University, UCity Square, and the Science Center