49 Unit West Philly Section 8 SFR Portfolio
Philadelphia, PA 19139
- High growth neighborhood location
- High appreciation submarket - 77% average home value growth in last 4 years
- Concentrated portfolio providing immediate
- 46 out of 48 units have rents subsidized by the Housing Choice Voucher Program
- 48 Properties
- 49 Units
- Self-managed and self-operated portfolio
- All assets acquired and gut renovated between 2014 & 2017
The Portfolio consists of 48 single-family row homes and 1 duplex, located predominantly in the West Philadelphia submarket, immediate to the explosive and expanding University City neighborhood.
The unit mix within the Portfolio consists of (4) 4-Bedroom, (42) 3-Bedroom, (1) 2-Bedroom properties, and (2) 1-Bedroom units. All but two properties are occupied by HUD-Section 8 subsidized tenants, providing for approximately 75% of monthly collected rent. This high percentage of HUD/PHA pay ensures consistency in monthly net rental income as well as significant risk mitigation against delinquency.
The Portfolio has been self-managed and all assets have been acquired between 2014 and 2017 by local ownership. Each of the properties has been fully gut-renovated including; new kitchens, baths, heaters, roof, sewer systems, electrical service, etc. The historical annual repairs & maintenance expense has proven to be very minimal as a result of significant capital investment during the initial rehabilitation stage and over the course of ownership.
Located in West Philadelphia