The Azalea - 54 Units

Roxborough - Manayunk

Overview

  • Offering Price Subject to Offer
  • Apartment Units 54
  • Parking Spaces 34
  • Building Size 45,000 SF
  • Lot Size 17,086 SF
  • Year Completed 2023

The Azalea is a newly constructed 54-unit apartment building situated in the Roxborough-Manayunk section of Philadelphia, about 25 minutes from Center City. The building features residential units with ground-floor parking, controlled access, a fitness center, welcoming lobby, and an elevator to a shared roof deck and green roof. The units boast high-end finishes, floor-to-ceiling windows, built-in bookshelves, custom cabinetry, stainless steel appliances, and quartz countertops. The exterior of the building boasts a brick and FCP façade with a glass storefront and custom aluminum screen wall at ground floor level.

Residents at The Azalea enjoy access to the many shops, cafes, and restaurants along Ridge Avenue including ShopRite, CVS, Target, Acme, Wawa, and New Ridge Brewing Co. Additionally, SEPTA Regional Rail (Ivy Ridge Station for the Manayunk/Norristown Line) is just a 20-minute walk or 10-minute bike ride. Roxborough-Manayunk Memorial Hospital, Drexel University College of Medicine, Thomas Jefferson University - East Falls Campus, Wissahickon Valley Park, and the Germantown Cricket Club are all within ±5 miles of the Property.

The Azalea presents an outstanding opportunity to operate a newly constructed apartment building in the desirable Roxborough-Manayunk sub-market of Philadelphia.

Investment Highlights

Newly Luxury Apartments: High-End Finishes, Fitness Center and Rooftop Lounge

Excellent Unit Mix: Studio, One-Bedroom, and Two-Bedroom Units

High Occupancy Sub-Market: Currently ±95% Leased
Parking Garage: Secure, Covered Parking for 34 Vehicles

Roxborough-Manayunk: One of Philadelphia's Most Prominent Residential Neighborhoods

Transit-Oriented Location: Access to Regional Rail, Bus Routes and Interstate 76 (Schuylkill Expressway)

Team

Ken Wellar

Founding Partner
GREA
215-454-2879
610-745-4800

Alan Krawitz

Associate Director
GREA
267-323-4083
610-420-4559

Corey Lonberger

Founding Partner
GREA
215-454-2878
267-760-3726

Douglas Emrich

Associate Director
GREA
215-454-2889
610-733-8482

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