Active
5600-06 Germantown Ave
Philadelphia PA, 19144
$2,150,000
$87.45 per sqft
Active
24,585 sqft
Commercial
Built in 1958
SCOPE Commercial Real Estate Services, LLC ("SCOPE") is pleased to present the opportunity to acquire Frederick Douglas Apartments, a 16-unit mixed use asset over 7,021 square feet of commercial space in the Germantown neighborhood of Philadelphia, PA.
Frederick Douglas Apartments, located at 5600-5606 Germantown Ave, is a 24,585 square-foot property consisting of 16 residential units over two commercial units. The property offers five studios, five one-bedroom, one-bathroom units, and six two-bedroom, one-bathroom units. The average monthly rent is $786 for studios, $775 for one-bedroom units, and $1,020 for the two-bedroom units, resulting in an overall average rent of $870 per unit. New ownership can raise rents to meet the market as is for a 25 percent upside. Additionally, renovating unit interiors could allow for a further 38 percent rent growth.
The commercial unit 5604-5606 is also leased out until 2029 with personal guarantees in place. There is about another $60,000 of upside if the other commercial unit is leased. 5600-02 offers about 3,300 square feet of commercial and 5604-06 offers about 3,700 square feet.
PAPH2449988
MLSⓇ ID
February 26, 2025
Listed
February 28, 2025
Updated
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
0.19 Acres
Sewer
Public Sewer
Other Property Details
Area Name
PHILADELPHIA
Taxes
$18,138
Tax Frequency
Annually
Days on Market
1
Garage
No
View
No
County
PHILADELPHIA
Water Source
Public
Listed by Scope Commercial Real Estate Services, Inc.
Listing Contact: 2672520223
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Data last updated on 2/28/2025 at 8:16 PM UTC
