1848 N 16Th Street, Philadelphia, PA 19121-3301 $50,000,000
Interior Sq. Ft: 4,297
Acreage: 0.04
Age:5 years
Taxes: $1,161
Design/Type:
Interior Row/Townhouse
Description
This turnkey investment offers a fully managed portfolio of 69 properties grossing $4.3 million in annual rent, located in the thriving 19121 development zone within 5 blocks of Temple University. With Temple’s freshman enrollment at an all-time high, this portfolio provides a stable, high-performing investment with immediate returns and significant long-term growth potential. 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 $3.2 million and a $50 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: $50 million Gross Rent: $4.3 million annually Net Operating Income: $3.1 million Current Occupancy Rate: 96% (Currently 55% rented for the 25/26 lease term beginning August 1s) Cap Rate: 6.3% 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.
Home Assoc: No
Condo Assoc: No
Basement: Y
Pool: No Pool
Features
Utilities
Forced Air Heating, Electric, Central A/C, Electric, Hot Water - Electric, Public Water, Public Sewer
Garage/Parking
On Street
Interior
Fully Finished Basement
Exterior
Block Foundation, Flat Roof, Masonry
Select a school from the following list. Schools are grouped by school type.
The schools on this list are selected by their proximity of up to 5 miles to the property address.
Proximity does not guarantee enrollment eligibility. Please contact the school directly for more information on enrollment requirements.
* If there are more than 5 schools of any type within a close proximity, click on the button to see additional schools of that type near the search address.
Public Elementary (158 schools)
Public Middle (31 schools)
Public High (71 schools)
Private (122 schools)
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This report is a detailed community overview for Philadelphia (19121), Pennsylvania.
Community Quick Facts
- Average travel time to work for people in this community: 32
- Average salary of people in this community: $31,826
Community Summary
- Population Density (ppl / mile): 13,816
- Household Size (ppl): 2.52
- Households w/ Children: 57%
Housing Inventory
- Owned: 3,933 (23.9%)
- Rented: 8,475 (51.6%)
- Vacant: 4,024 (24.5%)
- Total: 16,432
Population Demographics
The population of the community broken down by age group. The numbers at the top of each bar indicate the number of people in the age bracket below.
Climate and Weather
The Temperature chart displays average high and low values for January and July, and is designed to provide an indication of both seasonal and daily temperature variability. The Weather Risk Index indicates the calculated risk of each type of weather event occurring in the future. This risk is based on historical localized storm events and weather patterns. The national average for each type of weather event equals a score of 100, so a score of 200 would represent twice the risk as the national average, and a score of 50 would represent half the risk of the national average.
Temperature
Education
Highest Level of Education Attained
- Less than 9th Grade: 3.6%
- Some High School: 18.0%
- High School Graduate: 36.6%
- Some College: 21.7%
- Associate Degree: 4.5%
- Bachelor's Degree: 8.9%
- Graduate Degree: 6.8%
Income by dollar range
Median Income: $21,201
Fair Market Rents
The Fair Market Rents show average gross rent estimates based on figures provided by the U.S. Department of Housing and Urban Development (HUD).
- Studio: $631
- One Bedroom: $705
- Two Bedroom: $840
- Three Bedroom: $929
- Four Bedroom: $1,622
© 2024 LiveBy. All Rights Reserved.
Contact Information
Schedule an Appointment to See this Home
Request more information
or call me now at 302-234-6060
Listing Courtesy of: Keller Williams Realty Devon-Wayne , (610) 647-8300, klrw894@kw.com
The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which Patterson-Schwartz Real Estate participates, and is provided by BRIGHT through a licensing agreement. The information provided by this website is for the personal, non-commercial use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Information Deemed Reliable But Not Guaranteed.
Copyright BRIGHT, All Rights Reserved
Listing data as of 12/19/2024.
Broker Compensation
An offer of broker compensation or seller concession is not a guarantee. All compensation offers and concessions are negotiable and subject to written agreement between the parties. Please consult with your real estate agent for more information.