3815 Wallace St

Mantua, Philadelphia, PA 19104

Incredible investment opportunity in a high growth area of University City! 3815-17 Wallace St includes two mirror image 4 unit new construction buildings with over 8 years left on a full 10 year Tax Abatement and is being offered with 623 N 36th St as an 11 UNIT PORTFOLIO. Each side boasts two 2 bedroom and two 3 bedroom apartment units with top quality finishes, central A/C, and in-unit laundry. Half of the units have either a private patio or a private roof deck. Get the best of both worlds with new construction buildings that do not require any work while still boasting a value add opportunity to lease at rates more in line with the market after an initial lease up during the midst of the covid lockdowns and the ability to benefit from the nearby construction boom. Great location with new construction all around, including a 30+ unit project on the same block and the neighborhood transforming development of Village Square in Haverford just over a block away. The highly anticipated uCity Square project featuring 8 million square feet of new office, lab, medical, academic, residential and commercial space is in progress just down the road. Close proximity to other economic and employment drivers such as Drexel University, Penn Presbyterian Hospital, University of Pennsylvania, the Schulykill Yards project, major transportation lines to Center City, I-76, and plenty favorite neighborhood restaurants and nightlife. All electric utilities for easy management. All three buildings are located in Federal Opportunity Zones and have a tax abatements allowing for incredibly low property taxes for many years to come. Operating Memorandum and additional lease and operations information are available upon request.