THE VALE | EAST FALLS
36 Apartments | 4 Commercial Units
Overview
- Offering Price $12,250,000
- Apartment Units 36
- Pro Forma CAP Rate 6.2%
- Commercial Units 4
- Building Size 37,645 SF
- Price per Unit $306,250
GREA offers qualified investors the opportunity to acquire the fee simple interest in The Vale at 3515 Midvale Avenue in the East Falls section of Philadelphia. The newly constructed property comprises 36 apartment units and 4,380 square feet of commercial space.
The Vale has a desirable mix of 63% one-bedroom and 37% two-bedroom units. The Asset is a boutique luxury property, boasting high-end finishes including stainless steel appliances, stone countertops, LVP flooring, subway tile backsplashes, and sleek gray shaker-style cabinetry. Further, these units feature Central HVAC, in-unit washers/dryers, and oversized windows. The Vale offers a boutique lobby, balconies on select units, a common roof deck, a fitness center, and secure off-street parking for 33% of residents (12 spaces).
Residents of The Vale live on Midvale Avenue and have a 5-minute walk to Ridge Avenue, both thriving retail corridors serving Philadelphia's East Falls neighborhood. The Property is close to amenities such as Rite Aid, Truist Bank, Le Bus Bistro, In Riva Restaurant, and Vault+Vine Coffee Shop. Residents must look no further than outside their front door for a complete suite of local and national businesses, boosting occupancy and desirability.
The Vale is transit-oriented, located minutes from major thoroughfares including I-76, I-676, and I-95 providing unparalleled access to the Philadelphia MSA. Furthermore, the East Falls Station on Midvale Avenue is just a short walk away, carrying commuters into Center City and the Philadelphia Suburbs via the Manayunk/Norristown Train Line.