1611 17Th St Philadelphia, PA 19121
- Dormitories
- 3,500 SF
Current Use by Public Records
- Dormitories
Property Details for 1611 17Th St
- Year built
- 1915
- Property size
- 3,500 SF
- Property type
- Dormitories
- Property subtype
- Student housing
Description
This fee-simple, 1915-built, three-story quadplex in Philadelphia, PA (1611 N 17th St, zip code 19121) offers a compelling investment opportunity. The property, totaling 3,500-4,000 square feet on a 2,000 square foot lot, features four units with a total of fifteen bedrooms. Renovated in 2021, it boasts 100% occupancy and a strong net operating income (NOI) of $86,624, resulting in a 7.87% cap rate. Each unit is currently leased, generating significant rental income. The asking price is $1,100,000, or $275,000 per unit. The property is zoned RM1 and is situated near Temple University, providing access to a large student population and convenient amenities. This stabilized investment is ideal for those seeking a strong return in a desirable location. The property is for sale by owner.
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
- -75.1627
- Latitude
- 39.9782
