0 15Th StPhiladelphia, PA 19121

Property Details for 0 15Th St

Year built

1915

Property type

Dormitories

Property subtype

Student housing

Description

This exceptional 9-unit apartment building, totaling 6,872 square feet, presents a compelling investment opportunity near Temple University. Built in 1915 and renovated in 2015, this four-story property boasts 16 bedrooms and currently enjoys 100% occupancy. The building is zoned RM-1 and operates under a master lease expiring in August 2027, offering predictable income with an annual rent increase. The current NOI is $110,349, yielding an 8.17% cap rate on the $1,350,000 asking price. Located on N 15th St in Philadelphia, PA (zip code 19121), this property is ideally situated steps from Temple's main campus, surrounded by high-end student rentals. At lease expiration, the master lease can be renewed or terminated, providing flexibility for future investment strategies. This stabilized investment offers a strong return and significant potential for long-term growth in a highly desirable location. The property's strong occupancy rate and proximity to Temple University make it an attractive option for investors seeking a stable and potentially appreciating asset.

Location Insight

City

Philadelphia

County

Philadelphia

State

Pennsylvania

Latitude

39.9775

Longitude

-75.1598

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