Head House Flats — Sale in Philadelphia, PA

  • Price: $11
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Philadelphia, PA 19147
  • Year built: 1985

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Description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to present the opportunity to acquire Head House Flats (the “Property”), a self-contained, 47-unit community offering a significant mark-to-market investment in Philadelphia’s prestigious Society Hill. The Property occupies the entire third floor of the iconic Abbotts Square building, operating as a private residential enclave independent from the commercial and condominium uses on other floors. Head House Flats is a boutique, 47-unit luxury apartment building in Society Hill, featuring a desirable unit mix of 18 studios, 23 one-bedrooms, and 6 two-bedrooms—not commonly found in the area. In 2017, the property underwent an extensive $11 million conversion that modernized every residence with high-end finishes such as granite countertops, stainless steel appliances, and LVT flooring, ensuring minimal near-term capital expenditure for new ownership. The condominium structure offers residents the privacy of exclusive residential floors, condo-quality interiors, elevator service, and secure keyless entry. Further enhancing its financial profile, Head House Flats benefits from a valuable tax abatement through 2029. he property also provides furnished unit options, with management owning all furniture; currently, 13 occupied units are furnished. The Property is anchored by Philadelphia’s world-class “Eds and Meds” economic drivers. Residents are a 15-minute walk from 4,000 employee Pennsylvania Hospital and a 20-minute walk from the 14,500 employee Thomas Jefferson University Hospital, creating a built-in, recession-resilient tenant base of high-earning professionals. This tenant base is among the city’s most affluent; 25% of residents within a quarter-mile earn over $200,000 annually, and the average household income is $171,000 creating a demographic with limited price sensitivity. Further validating the location’s value, robust end-user demand is evidenced by ten recent individual condominiums on floors 4-7 sellin

Market Context

This multifamily in Philadelphia, PA is listed for sale at $11. The building dates to 1985. Compare it against other multifamily listings for sale in Philadelphia, PA — view the full market.

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