15Th St Philadelphia, PA 19121
- Dormitories
Current Use by Public Records
- Dormitories
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.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Philadelphia
- County
- Philadelphia
- State
- Pennsylvania
- Longitude
- -75.1598
- Latitude
- 39.9775
