Property Description

THE GRACE APARTMENTS — named for a Philadelphia icon, Grace Kelly — this boutique, 34-unit, ±30K SF new construction multifamily property is nestled in the northwest hills of East Falls in Philadelphia, Pennsylvania. This premium turnkey 7.15% CAP asset commands an impressive streetscape presence on Midvale Avenue — the winding, bucolic avenue which runs from the top of the hill to the Schuylkill River. Located in the storybook East Falls setting where extremely high barriers-to-entry exists, the 5-storey building is comprised of studios, 1bd and 2bd apartments and commercial space. Residents have access to a fully furnished fitness center on the ground floor to practice everyday health and wellness, as well as a panoramic rooftop terrace showcasing views of the lush surrounds. The Property is set back from the bustling Ridge Ave corridor and tucked into the landscape, providing a quiet respite for residents. Yet, it’s just steps from the plentiful shops, restaurants, cafes and amenities in the East Falls borough, and equally convenient to Main Street Manayunk, The Schuylkill River Trail, Septa’s regional rail station, Jefferson University, Wissahickon Valley Park, Bala Cynwyd shopping + office districts, and so much more—just outside of the urban core. The asset carries the benefits of a FULL 10 year tax abatement along with minimal expenditures, in an area poised for above-average rent growth and appreciation — NW PHL—the top destination in the world to visit in 2026.

Property Features

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