1937 Spring Garden St

On behalf of Ownership, GREA offers qualified investors the opportunity to acquire the fee simple interest in 1937 Spring Garden Street located in the Fairmount-Art Museum section of Center City Philadelphia (the “Property” or “Asset”). The Asset comprises five apartment units with a mix of (3) one-bedroom and (2) three-bedroom floor plans.
The Property presents new ownership the opportunity to employ a light value-add business plan to increase rent. Upgrades to select unit interiors will yield a rental premium bringing rents in line with the top end of the competitive set.
1937 Spring Garden is ideally located, servicing a tenant base looking for a location walkable to restaurants, coffee shops, museums, and nightlife. Fairmount-Art Museum residents are also within walking distance of the Schuylkill River Trail, Martin Luther King Drive, and Center City Philadelphia.
The Asset is transit-oriented, located minutes from major highway routes such as Interstate 76, 676, and 95 presenting unparalleled access throughout the Philadelphia MSA. Further, the 1937 Spring Garden is 0.5 miles from the Spring Garden Station on the SEPTA Broad Street Subway Line, carrying commuters from Fern Rock in North Philadelphia south to the Philadelphia Sports Complex with several stops in Center City.
1937 Spring Garden is a rare opportunity to acquire a value-add brownstone property in a highly regarded neighborhood free from oversupply.