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1514, 1518, 1521, 15 N 17TH Street

PHILADELPHIA, PA 19121
  • $2,150,000
  • STATUS: Active
  • ON SITE: 157 Days
  • ID#: PAPH2090824
UPDATED: 113 min ago
$2,150,000
  • 0
    BEDS
  • 0.05
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
1915
County:

School Ratings & Info

Description

17th Street Flats is a multifamily/student housing portfolio consisting of 4 (4 additional triplexes are also available, see agent) 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.PROPERTY HIGHLIGHTS4 Triplexes12 Units / 28 BedsDynamic location allowing for market rate conversionBelow market rents at $535/bed averageLandlord currently pays W&S, trash, and common electricOpportunity to billback Water & SewerOpportunity to monetize washers/dryersEasy to manage assetsAddresses include: 1514, 1518, 1521, 1523 N 17th St

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©2022 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 Team First State Properties | Compass RE. 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: 2022-08-12T00:01:25.443.
www.firststateproperties.com/homes/126460807
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1514, 1518, 1521, 15 N 17TH Street PHILADELPHIA, PA 19121

  • Price: $2,150,000
  • Status: Active
  • On Site: 157 Days
  • Updated: 113 min ago
  • ID#: PAPH2090824
0
Beds
0
Baths
0
½ Baths
0.05
Acres
1915
Built
Neighborhood:
Temple University
County:
Philadelphia
Area:
19121 (19121)
School District:
The School District Of Philadelphia
Property Description
17th Street Flats is a multifamily/student housing portfolio consisting of 4 (4 additional triplexes are also available, see agent) 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.PROPERTY HIGHLIGHTS4 Triplexes12 Units / 28 BedsDynamic location allowing for market rate conversionBelow market rents at $535/bed averageLandlord currently pays W&S, trash, and common electricOpportunity to billback Water & SewerOpportunity to monetize washers/dryersEasy to manage assetsAddresses include: 1514, 1518, 1521, 1523 N 17th St
Exterior Features

Construction Materials Masonry Garage YN No Parking Types None Riparian Rights YN No Water Access YN No Water Oriented YN No Water View YN No Waterfront YN No

Interior Features

Building Area Total 3546.00 Cooling Central A/C Heating Central Heating YN Yes Net Square Feet 28000.00

Property Features

Accessibility Features None Assessment Year 2022 Business Type Apartment Building Central Air YN Yes Cooling Fuel Electric Heating Fuel Natural Gas Hot Water Natural Gas Municipality Philadelphia Navigable Water YN N New Construction YN No Number Of Units Total 12 Original MLSNumber 801384665046 Ownership Interest Fee Simple Possession Settlement Property Sub Type Five Or More Units Sale Type Standard Sewer Public Sewer Tax Annual Amount 6800.00 Tax Assessment Amount 485800.00 Tax Lot 214 Vacation Rental YN No Water Source Public Zoning Rm1

Listing courtesy of Kw Commercial.


©2022 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 Team First State Properties | Compass RE. 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: 2022-08-12T00:01:25.443.
 
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