185,000 SqFt
185,000 SqFt
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
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