710-16 S AMERICAN ST Active Save Request In-Person Tour Request Virtual Tour
Philadelphia,PA 19147
Key Details
Property Type Commercial
Sub Type Five Or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 30,250 sqft
Price per Sqft $157
Subdivision Queen Village
MLS Listing ID PAPH2385040
Originating Board BRIGHT
Year Built 1900
Annual Tax Amount $53,924
Tax Year 2024
Lot Size 9,924 Sqft
Acres 0.23
Lot Dimensions 55.00 x 100.00
Property Description
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. Buyer responsible to verify taxes, SF and financials in DD. 48hr notice to tour (tenant occupied).
Location
State PA
County Philadelphia
Area 19147 (19147)
Zoning RM1
Interior
Hot Water Natural Gas
Heating Central,Wall Unit
Cooling Central A/C,Wall Unit
Flooring Hardwood
Heat Source Natural Gas,Electric
Exterior
Garage Spaces 30.0
Waterfront N
Water Access N
Accessibility Other
Parking Type Private Garage
Total Parking Spaces 30
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District The School District Of Philadelphia
Others
Tax ID 881571850
Ownership Fee Simple
SqFt Source Assessor
Security Features Exterior Cameras
Special Listing Condition Standard