Yarn Factory Lofts

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to present the opportunity to acquire the Yarn Factory Lofts (the “Property” or “Yarn Factory”), a 50-unit core-plus community located on Manayunk’s Main Street.

Yarn Factory Lofts was redeveloped in 2018 from a former woolen carpet yarn facility, with the redevelopment preserving the buildings’ original character and incorporating its industrial history into the design. Open concept floorplans, exposed brick walls, wood beams, and stonework create an industrial-chic ambiance that blends modern aesthetics with raw, urban charm. All apartments incorporate contemporary design elements such as stainless-steel appliances, quartz countertops, and modern oak cabinetry. The property is comprised of three distinct buildings: Building 1 features 25 units, Building 2 features 19 units, and Building 3 contains 6 units. Across the community, there are 42 one-bedroom apartments averaging 629 square feet, and 8 two-bedroom apartments averaging 850 square feet. In addition to the various apartment features, a clear opportunity exists to enhance outdoor amenities and upgrade the dog park facility. These targeted enhancements would strengthen the property’s market position and support increasing rents across all unit types.

The Property is situated in Philadelphia’s desirable Manayunk submarket, a neighborhood that consistently attracts affluent young professionals with its unique character. The area’s appeal is anchored by a vibrant Main Street, offering a dynamic mix of restaurants and boutiques, and extensive recreational amenities along the Schuylkill River and Canal. These features are supported by a strong demographic profile, with median household incomes for residents exceeding $100,000, and Philadelphia’s resilient and growing economy. This powerful combination fuels a robust local multifamily market with high occupancy, presenting a clear opportunity for new ownership to capitalize on sustained demand and achieve significant rent growth.

Yarn Factory is conveniently located less than 1 mile from I-76, providing easy access throughout the MSA. Additionally, the property is half a mile from SEPTA’s Manayunk station, allowing residents to commute to Center City, Philadelphia, and Conshohocken in under 20 minutes. Moreover, Manayunk boasts a thriving culinary culture, offering exceptional dining experiences ranging from artisanal coffee shops to trendy gastropubs. Outdoor enthusiasts will also find enjoyment in the nearby Schuylkill River Trail, which offers scenic views and opportunities for walking or biking along the riverfront.

Yarn Factory Lofts offers investors the opportunity to acquire an asset directly on Main Street in Philadelphia’s coveted Manayunk neighborhood. New ownership can immediately capitalize on untapped potential through a restore to core investment strategy focusing on amenity enhancements that drive immediate value creation and long-term asset performance.