UPDATED:
02/28/2025 07:13 PM
Key Details
Property Type Multi-Family, Townhouse
Sub Type Interior Row/Townhouse
Listing Status Active
Purchase Type For Sale
Square Footage 185,000 sqft
Price per Sqft $259
MLS Listing ID PAPH2429090
Style Contemporary
Abv Grd Liv Area 185,000
Originating Board BRIGHT
Year Built 2019
Annual Tax Amount $1,161
Tax Year 2025
Lot Size 1,560 Sqft
Acres 0.04
Lot Dimensions 16.00 x 98.00
Property Sub-Type Interior Row/Townhouse
Property Description
Portfolio Highlights:
Prime Location: 95% of the portfolio is within Temple University's campus patrol zone, ensuring safety and convenience for tenants—a key driver for retention and demand.
Strong Occupancy: The portfolio's current occupancy rate is 96%, a testament to its quality and desirability.
Immediate Cash Flow: Generating $4.3 million in gross annual rent, this investment offers dependable income from day one.
Secure Payments: Student housing provides one of the safest rent-collection models, with rent typically secured by parental guarantors.
High-Quality Renovations: Many properties have been newly renovated with modern finishes. Over 20 properties feature roof decks, ensuring strong tenant demand and rentability.
Equity Growth Potential: Several properties offer value-add opportunities through strategic improvements to further enhance rental income and property value.
Attractive Cap Rate: With a Net Operating Income (NOI) of $3.1 million and a $48 million asking price, this portfolio offers a 6.4% cap rate, making it a compelling opportunity for investors seeking strong returns.
Why Invest in Temple University Rentals?
The Temple University area is experiencing a surge in student population, with a surge in freshman enrollment fueling demand for off-campus housing. Under its new leadership, Temple University is embarking on exciting revitalization projects aimed at enhancing campus infrastructure and surrounding neighborhoods, adding to the area's growth and long-term appeal. This wave of optimism and investment is expected to further strengthen the market, making it an ideal time to secure a foothold in this high-demand area.
The 19121 development zone is a hotbed for growth, with nearby infrastructure improvements and rising property values adding to the appeal.
This portfolio combines immediate, stable cash flow with opportunities for long-term appreciation. Whether you're a seasoned investor or new to the student housing sector, this offering delivers unmatched returns and growth potential.
Key Financials:
Price: $48 million
Gross Rent: $4.3 million annually
Net Operating Income: $3.1 million
Current Occupancy Rate: 97% (Currently 55% rented for the 25/26 lease term beginning August 1s)
Cap Rate: 6.4%
Student housing near Temple University is one of Philadelphia's most lucrative and secure investments, making this portfolio a rare and attractive opportunity.
Contact us today to learn more or to schedule a discussion about this exceptional offering.
Location
State PA
County Philadelphia
Area 19121 (19121)
Zoning RM1
Rooms
Basement Fully Finished
Interior
Hot Water Electric
Heating Forced Air
Cooling Central A/C
Fireplace N
Heat Source Electric
Exterior
Water Access N
Roof Type Flat
Accessibility None
Garage N
Building
Foundation Block
Sewer Public Sewer
Water Public
Architectural Style Contemporary
Additional Building Above Grade, Below Grade
New Construction N
Schools
School District Philadelphia City
Others
Tax ID 321098601
Ownership Fee Simple
SqFt Source Assessor
Special Listing Condition Standard
"My goal for each transaction is to give my buyers the information they need to make good decisions regarding neighborhoods, housing choices, pricing and negotiating the purchase."