32 E RITTENHOUSE ST Active Save Request In-Person Tour Request Virtual Tour
Philadelphia,PA 19144
Key Details
Property Type Commercial
Sub Type Five Or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 18,000 sqft
Price per Sqft $241
Subdivision Germantown
MLS Listing ID PAPH2407012
Originating Board BRIGHT
Year Built 2024
Tax Year 2024
Property Description
Pre-CO QOZ (Opportunity Zone) 10-unit single family rental investment property in the blossoming community of Germantown in Philadelphia, Pennsylvania. Located right off the quaint cobbles of historic Germantown Avenue loaded with shops, restaurants and amenities and adjacent to Vernon Park, this boutique new construction residential community is purposefully built and optimally designed with 3bd x 2ba, 1800 SF townhomes with private roof decks and the ultimate urban luxury - private garage parking. Build to rent residential property has become the fastest growing asset class for investors in the country as consumer preferences have adjusted in 2024 for homes with more space, outdoor environs, and suburban style. 32 Rittenhouse is one of the last investment properties in Philly to deliver a full 10 year tax abatement, meaning taxes are paid on the assessed value of the land rather than the improvements (10 townhomes). Located in a Top-10 USA MSA, this northwestern submarket is primed for rent growth and appreciation as lifestyle tastes shift outward from the urban core. 32 Rittenhouse is Part 2 of 2 in a mixed-use new development. Phase 1 has been sold. Capture Opportunity Zone benefits with the acquisition of this prime Philly real estate.
Location
State PA
County Philadelphia
Area 19144 (19144)
Zoning RSA5
Interior
Hot Water Natural Gas
Heating Central
Cooling Central A/C
Flooring Luxury Vinyl Plank
Heat Source Central
Exterior
Garage Spaces 10.0
Water Access N
View City
Roof Type Fiberglass
Accessibility None
Total Parking Spaces 10
Garage N
Building
Lot Description Irregular
Foundation Concrete Perimeter
Sewer Public Sewer
Water Public
New Construction Y
Schools
School District The School District Of Philadelphia
Others
Tax ID NO TAX RECORD
Ownership Condominium
Special Listing Condition Standard