1511 N 16th Street,
Philadelphia, Pennsylvania, 19121 United States

1511 N 16th Street
Philadelphia, Pennsylvania, 19121 United States

$1,099,000USD
  • 4,698 Sq Ft.
    Interior
  • .1 Acres
    Exterior
  • Undisclosed Price
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    Price / Sq. Ft.:
    $234

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1511 N 16th Street

About 1511 N 16th Street, Philadelphia, Pennsylvania

CALLING ALL INVESTORS!!!!! If your investors are looking for a Value-add property in the Temple market they have come to the right place. Welcome to 1511 N 16th St, a beautiful building close to Temple University in North Philadelphia! This large property and land run street to street with the main building hosting 4 Units and the carriage house in the back with plans designed for 4 additional Units. As of now Unit A and B are Vacant and Unit C is currently 75% Occupied at $610 a Bed total Rental income for Unit C is $1,830/month. The 4th unit, Unit D, is currently Vacant as it requires a complete rehab. My team already has plan designs and drawings (See Documents Section) from an architect to turn unit D into a desirable 2 Bed 2 Bath rental and to turn the Carriage house the back into 4, 1 Bedroom 1 Bathroom apartments. We have an estimated construction cost of 350K for the project which puts this fully occupied and developed at a 8.5% Capitalization rate in a great area. The Seller is willing to pay a full year rent for any of the Vacant Units in the main building. This is an ideal property for any new or seasoned investors looking to get into the Temple Student housing market. Please contact me for plan designs and drawings for one or both properties. Call or email me or my co-listing agent for the offering memorandum or just to hear more information on these incredible investment opportunity

Listing Courtesy of Keller Williams Philly

Data provided by BRIGHT MLS

Marketed By

Downtown Brokerage

Property ID:PAPH988574

MLS ID:PAPH988574

Amenities

  • 1 Fireplace
  • A/C