Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A
Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A

Documents

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Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Attributes

Year Built 1936
Building Area
Number of units 58

Property Description

Jones Lang LaSalle Americas, Inc. is pleased to present the opportunity to acquire Lincoln Court, a 58-unit, value-add, multi-housing offering located in the dynamic Overbrook submarket of Philadelphia, Pennsylvania.

Investment Highlights

Compelling Value-Add Opportunity

Lincoln Court is approximately 62% unrenovated, setting the stage for an investor to capitalize on a well-located asset with a proven renovation program. As currently positioned, renovated units are achieving average rental premiums of $150 - $200 above classic units, further supporting the demand for renovated units in the Overbrook submarket.


Additional Density

Lincoln Court presents the opportunity to increase the density and add eight (8) additional units through the conversion of the four-bedroom floorplans. By increasing density, an investor will lower their going-in basis and capitalize on additional annual rental income. All requirements for this conversion have been met, and Philadelphia’s ZBA approved this request in August 2020.


Dynamic Location

Lincoln Court is strategically located at the intersection of Lancaster Avenue (Route 30) and City Avenue (Route 1). The Property is just 0.2 miles from the Overbrook SEPTA Regional Rail Station, providing immediate next-stop access to Center City and various suburban destinations traveling west along the Main Line. Additionally, Lincoln Court is under one mile from Lankenau Medical Center, part of the Main Line Health System, St. Joseph’s University, and over 2.6 million square feet of Class A office space and luxury retail along City Avenue in Bala Cynwyd.

Last Updated Date: 22 Jan 2021
Carl Fiebig
Carl Fiebig
Managing Director, Capital Markets
License details
PA - RS320618 MD - 5000439
Mark Thomson
Mark Thomson
Senior Managing Director, Philadelphia Office Co-Head
License details
DE-RS0019034 MD-5000570 PA-RS292417

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Last Updated Date: 22 Jan 2021

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