LINDA MCKINNON

Description

We are pleased to present a turnkey, fully leased investment opportunity in the highly desirable University City/Drexel and Mantua section of Philadelphia. This purpose-built student housing building comprises 6 units with a total of 20 bedrooms and bathrooms, offering a diverse mix of 3 and 4-bedroom units. Currently generating about $15,000 in monthly rental income with low expenses and maintenance, this investment boasts a 7.9% cap rate. This property has always been 100% leased and has already been leased for the next academic year 2025-2026. This property primarily attract students from Drexel University and the University of Pennsylvania, as well as medical staff and young professionals. Constructed just 5 years ago, the building has been implacably maintained , up-to-date, with 5 years remaining on their property TAX ABATEMENT. The generously sized units feature high-end finishes, including a 1 BED TO 1 BATH RATIO and premium kitchen and bathroom fixtures. These attributes make the properties highly competitive compared to nearby student housing options, ensuring they remain easy to rent for years to come. Additional amenities include in-unit laundry, video surveillance entrances, sprinklered fire systems, high ceilings, large closets, luxury vinyl flooring, quartz countertops with stainless steel appliances, rooftop decks with skyline views, outdoor backyards, and more. This University City Student Housing investment represents a tremendous opportunity to acquire strong-performing, never-vacant, and low-maintenance asset in a well-known, walkable, and bike-friendly neighborhood experiencing significant growth and expansion with major projects underway featuring over 33 million square feet of lab, residential, institutional, office, and public space in the pipeline at major developments like uCity Square and Schuylkill Yards, plus individual projects throughout the district.(ask me for more details on this). Conveniently located within walking distance to world-class universities, medical facilities, 30th Street Station, and the Art Museum, these properties also offer easy access to local highways.

Features