- For Sale $3,900,000
- Property Type Other
- Property Size 14,400 SF
- Units 14
- Additional Rent Contact for pricing
- Year Built 1900
- Date Updated May 18, 2024
- Website 405407south42ndstreet.sharplaunch.com
On behalf of Ownership, GREA extends to qualified investors the opportunity to acquire the fee simple interest in 405 and 407 South 42nd Street situated in the Spruce Hill neighborhood of West Philadelphia (the “Property” or “Asset”).
The Asset boasts an attractive unit mix in a prime area that has become more affluent as the University of Pennsylvania and the Children's Hospital of Philadelphia have focused on expanding their footprint in University City Philadelphia. The Property is comprised of two buildings containing a total of 14 apartments with a mix of 29% one-bedroom/one-bath units, 7% two-bedroom/one-bath units, and 64% two-bedroom/two-bath units.
This offering presents new ownership with a significant opportunity to own a newly renovated product at an attractive basis below replacement cost. The Property is positioned to offer high-quality, premium finishes at a reduced rent compared to new construction assets. Occupancy at these assets will remain high due to pricing and proximity to the University of Pennsylvania, Drexel University, CHOP, and the UCity Science Center.
The Asset is located minutes from major highway routes such as I-95, I-76 (the Schuylkill Expressway, and I-676, presenting unparalleled access throughout the Philadelphia MSA. Further, tenants are a short walk from the SEPTA Green Line Trolley transporting commuters directly into Center City Philadelphia.
405 and 407 South 42nd Street is well positioned to service a growing tenant base looking for affordable luxury units in a market attracting Ed’s and Med’s to some of the finest learning institutions in the country.
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Attachments
Highlights
- Turnkey Investment Opportunity: Newly Renovated Asset with Little to No Deferred Maintenance
- Prime Spruce Hill Location: Highly Regarded Residential Neighborhood
- Abundant Neighborhood Amenities: Popular Bars, Restaurants and Coffee Shops within Walking Distance
- Eds and Meds Tenant Base: Proximity to the University of Pennsylvania, Drexel University, St. Josephs University, Penn Medicine, and the Childrens Hospital of Philadelphia
- Access to Public Transit & Highways: SEPTA Bus, Trolley, Light Rail and Regional Rail; Proximity to Interstates 76, 95, and 676
False
Contacts
Location
Getting Around
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Walk Score ®
94/100
Walker's Paradise
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Transit Score ®
91/100
Rider's Paradise
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Bike Score ®
98/100
Biker's Paradise
- City Philadelphia, PA
- Neighborhood Spruce Hill
- Zip Code 19104
- Market Philadelphia
Points of Interest
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40th Street & Filbert Street
0.16 miles
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36th Street & Market Street
0.33 miles
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36th St
0.33 miles
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36th Street Portal
0.34 miles
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37th Street Station
0.40 miles
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Lancaster Avenue & Spring Garden Street
0.41 miles
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34th St
0.46 miles
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40th Street Portal
0.49 miles
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Lancaster Avenue & Wallace Street
0.56 miles
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33rd Street
0.60 miles
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Getty Gas
0.25 miles
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BP
0.52 miles
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Sunoco
0.73 miles
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Sunoco
0.84 miles
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Gas & Mini Mart
0.91 miles
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Exxon
1.18 miles
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Sunoco
1.26 miles
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Sunoco
1.51 miles
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Sunoco
1.65 miles
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52st Gas
2.01 miles
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Presbyterian Garage
0.15 miles
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40th Street Parking Lot
0.17 miles
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Spruce Garage
0.31 miles
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Walnut Hill College Lot
0.37 miles
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K99-Lot
0.37 miles
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CHOP Visitor Parking
0.41 miles
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C - Lot
0.42 miles
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P-Lot
0.48 miles
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Drexel Lot G
0.49 miles
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Lot 37
0.50 miles
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Homewood Suites University City
0.29 miles
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Hilton Inn at Penn
0.30 miles
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Sheraton Philadelphia University City Hotel
0.35 miles
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The Gables
0.89 miles
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The Rittenhouse Hotel
1.49 miles
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Motto by Hilton
1.54 miles
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Pod Philly Hotel
1.55 miles
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Four Seasons Hotel Philadelphia at Comcast Center
1.56 miles
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Sonesta Philadelphia Rittenhouse Square
1.61 miles
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The Logan Philadelphia, Curio Collection by Hilton
1.61 miles
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Thai Singha House Restaurant
0.06 miles
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Singha Thai Restaurant
0.08 miles
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Koreana
0.09 miles
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Abner's Cheesesteaks
0.09 miles
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Distrito
0.09 miles
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Sitar Indian Restaurant
0.10 miles
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Mizu Sushi Bar
0.12 miles
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Saigon Cuisine
0.12 miles
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Crown Fried Chicken
0.12 miles
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Bo Sing Chinese-American Food
0.12 miles
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Saint James School
0.17 miles
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Paul Robeson High School for Human Services
0.30 miles
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Lincoln Technical Institute
0.31 miles
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University of Pennsylvania School of Veterinary Medicine
0.36 miles
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The Restaurant School at Walnut Hill College
0.39 miles
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Walnut Hill College
0.39 miles
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University of Pennsylvania
0.40 miles
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University of Pennsylvania Law School
0.42 miles
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Parent Infant Center
0.43 miles
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Jaffe
0.46 miles
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Brightside Academy
0.16 miles
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Caring Center Pre-K
0.84 miles
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Haverford Center Comprehensive Day School
0.88 miles
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The Creation Station Daycare & Preschool
0.95 miles
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Heavenly Hall Day Care Learning Center
1.14 miles
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Westside Community Day Care Center
1.21 miles
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Hickman Temple Day Care and Learning Center
1.35 miles
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Childspace West
1.38 miles
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Global Leadership Academy Charter School Kindergarden
1.45 miles
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Point Breeze Head Start Center
1.67 miles
Frequently Asked Questions
How much does 405 & 407 South 42nd Street cost?
The space currently listed for sale at 405 & 407 South 42nd Street asks for $3,900,000.
What is the total square footage of 405 & 407 South 42nd Street?
405 & 407 South 42nd Street totals 14,400 square feet.
When was this property built?
405 & 407 South 42nd Street was built in 1900.
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