Huge Value Add Student/ Multifamily Opportunity
1514-1532 N. 17th Street
Philadelphia, PA 19121
Highlights
- 8 Triplexes
- 24 Units / 58 Beds
- Dynamic location allowing for market rate conversion
- Below market rents at $535/bed average
- Landlord pays W&S, trash, and common area electric
- Opportunity to billback Water & Sewer
- Opportunity to monetize washers/dryers
- Easy to manage assets
Description
17th Street Flats is a 2008-built multifamily/student housing portfolio consisting of 8 nearly-identical triplexes. Situated on Temple University's campus; and within walking distance to the highly gentrifying Brewerytown and Francisville neighborhoods, this opportunity affords a new owner a stabilized student renter base, while benefiting from the continued growth of the surrounding market rate rental market. As the adjacent neighborhoods continue to develop and expand with new luxury housing, shops, and restaurants, 17th Street Flats will position itself as a unique choice for both students and market rate rents adding to the asset's overall value and flexibility. 17 Street Flats offers a new owner the ability to add substantial value by simply managing the deeply under market rents, billing back water/sewer charges, and monetizing the laundry rooms. With all assets located on the same block, an owner is able to efficiently manage and scale operations with the benefit of significant revenue upside.
Located on Temple University' campus
