School District: The School District Of Philadelphia
Address: 1511 N 16TH ST
Welcome to 1511 N 16th St, a beautiful building close to Temple University in North Philadelphia! This large property hosts 4 units, with three of the units (A, B, and C) already occupied with paying tenants ranging from $1800-$1995/month in rental income. Units A and B both have 4 beds and 2 baths with 3 rooms each currently occupied with an existing lease to July 2021. Unit C also has 3 of the 4 beds already occupied with a lease to July 2021, and fortunately is already leased for the 2021-2022 school year starting in August 2021 with all 4 beds occupied and will begin to collect $2440/month. The 4th unit, Unit D, is currently vacant as it requires a complete rehab. My team already has plan designs and drawings from an architect to turn unit D into a desirable rental. This property is managed by MK Management Group, one of the leading management groups around Temple University. This is an ideal property for any new or seasoned investors looking to get into the Temple Student housing market, and as a bonus can be sold as part of a larger package (with 7 of the 9 properties left in the package) or sold separately as an individual property. Also included in the existing plan designs for Unit D is a separate property that is located directly behind this building. There are approved plans and zoning for this project on this current carriage house that will be converted into 4 apartments, each with 1 bed and 1 bath. 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 opportunities!
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