1524, 1526, 1531, 15 N 17TH Street

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 / 30 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 assets