Description
We are pleased to present a turnkey, fully leased investment opportunity in the highly desirable University City/Drexel and Mantua section of Philadelphia. This purpose-built student housing portfolio includes three properties located at 3716-18-20 Haverford Ave. The portfolio comprises 18 units with a total of 56 bedrooms and bathrooms, offering a diverse mix of 2, 3, and 4-bedroom units. Currently generating approximately $512,000 in annual rental income, this investment boasts a 7.15% cap rate.These properties primarily attract students from Drexel University and the University of Pennsylvania, as well as medical staff and young professionals. Constructed just 5 years ago, the buildings are modern and up-to-date, with 5 years remaining on their property tax abatement.The generously sized units feature high-end finishes, including a 1 bed to 1 bath ratio and premium kitchen and bathroom fixtures. These attributes make the properties highly competitive compared to nearby student housing options, ensuring they remain easy to rent for years to come. Additional amenities include in-unit laundry, video surveillance entrances, sprinklered fire systems, high ceilings, large closets, luxury vinyl flooring, quartz countertops with stainless steel appliances, rooftop decks with skyline views, outdoor backyards, and more.This University City Student Housing Portfolio represents a tremendous opportunity to acquire strong-performing, never-vacant, and low-maintenance assets in a well-known, walkable, and bike-friendly neighborhood experiencing significant growth and expansion with major projects underway featuring over 33 million square feet of lab, residential, institutional, office, and public space in the pipeline at major developments like uCity Square and Schuylkill Yards, plus individual projects throughout the district.(ask me for more details on this). Conveniently located within walking distance to world-class universities, medical facilities, 30th Street Station, and the Art Museum, these properties also offer easy access to local highways.
-
0BEDS
-
0.06ACRES
-
0BATHS
-
01/2 BATHS
-
7,600SQFT
-
$743$/SQFT
Description
We are pleased to present a turnkey, fully leased investment opportunity in the highly desirable University City/Drexel and Mantua section of Philadelphia. This purpose-built student housing portfolio includes three properties located at 3716-18-20 Haverford Ave. The portfolio comprises 18 units with a total of 56 bedrooms and bathrooms, offering a diverse mix of 2, 3, and 4-bedroom units. Currently generating approximately $512,000 in annual rental income, this investment boasts a 7.15% cap rate.These properties primarily attract students from Drexel University and the University of Pennsylvania, as well as medical staff and young professionals. Constructed just 5 years ago, the buildings are modern and up-to-date, with 5 years remaining on their property tax abatement.The generously sized units feature high-end finishes, including a 1 bed to 1 bath ratio and premium kitchen and bathroom fixtures. These attributes make the properties highly competitive compared to nearby student housing options, ensuring they remain easy to rent for years to come. Additional amenities include in-unit laundry, video surveillance entrances, sprinklered fire systems, high ceilings, large closets, luxury vinyl flooring, quartz countertops with stainless steel appliances, rooftop decks with skyline views, outdoor backyards, and more.This University City Student Housing Portfolio represents a tremendous opportunity to acquire strong-performing, never-vacant, and low-maintenance assets in a well-known, walkable, and bike-friendly neighborhood experiencing significant growth and expansion with major projects underway featuring over 33 million square feet of lab, residential, institutional, office, and public space in the pipeline at major developments like uCity Square and Schuylkill Yards, plus individual projects throughout the district.(ask me for more details on this). Conveniently located within walking distance to world-class universities, medical facilities, 30th Street Station, and the Art Museum, these properties also offer easy access to local highways.
©2024 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or ROSS | RESIDENTIAL | RE/MAX Realty Services. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2024-12-04T06:52:21.34.