Description
Opportunity to acquire a recently renovated, fully occupied duplex at the center of Temple University’s off campus community! One of the most desirable blocks for student housing, this building features a rare 1:1 bedroom to bathroom ratio, which is highly sought after for student renters. The lower level 3BR/3BA unit is currently rented for $2100 and the upper level 4BR/3BA has a lease in place for $2120. Each unit has leases in place through July 2023 with opportunity to increase rents in the coming years.
The building was completely renovated in 2020 to include high quality LVT flooring, Quartz countertops, Central HVAC, new water heaters, keyless entry, and smart home security features throughout.
Tenants are charged a monthly flat rate for water. All other utilities are tenant responsibility and paid directly to provider. The building is currently professionally managed by one of Temple University’s most trusted off-campus property management teams, TPR Homes. TPR Homes is will to honor current management rate (5% of gross rents collected) to new ownership.
This property can also be purchased as part of a package offering with 1727 Arlington Street, located right around the corner. Reference PAPH2116768 for that listing.
Current annual income is $52,320.
Location
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Courtesy of: Coldwell Banker Realty Listing information provided courtesy of the Bright MLS. IDX information is provided exclusively for consumers' personal, non-commercial use, and it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable, but is not guaranteed accurate by the MLS. Updated: 15th August, 2022 9:46 AM (UTC)