Traipsing through Northern Liberties last week, we came upon a row of six homes that we'd never noticed before. They caught our attention not because of their unique architecture (they look boring) or because they're a new addition to the neighborhood landscape (they aren't), but because of the sign outside advertising that they're for sale. As in, all of them are for sale. Not something we see too often, we confess.
The address of this property is 918-24 N. American St., though only one of the homes actually touches American Street. The rest proceed to the west, fronting the Liberty Lands playground. With no homes across the street, they surely get plenty of natural light, and we'd be remiss if we don't mention the eleven parking spots in the back. Also, who doesn't love the sounds of kids playing outside their home?
Doing a little digging, we discovered that the listing for the homes actually expired in December after a year on the market at a sale price of around $2.4M. Across the six homes, there's twenty-five bedrooms, nine full baths, and five half-baths. Looking at the photos from the old listing, it appears as if the homes are set up with the rental market in mind, with white appliances, some carpeting, and rather unluxurious interior details. But you'd think the 7% cap rate suggested in the listing might have been attractive to some buyer. Alas.
Now it seems that the current owners are sticking around, and at least one of the units is currently available for rent for $2,400 per month.
It ain't the fanciest apartment in Northern Liberties, but with the park right outside, you could certainly do worse. And hey, if you really like the place, you could probably convince the landlords to sell you the house, and the five homes next door to boot.