Spicer Real Estate
  • Share
$48,000,000
For Sale Active
PA,Philadelphia

Location 1848 N 16th St,philadelphia,pa,19121,philadelphia

  • Sqft 0.04 Acre SQFT
Basic Details Basic Details
Description

This turnkey investment offers a fully managed portfolio of 69 properties grossing $4.3 million in annual rent, located in the thriving 19121 development zone within 5 blocks of Temple University. With Temple’s freshman enrollment at an all-time high, this portfolio provides a stable, high-performing investment wi

returns and significant long-term growth potential.

Portfolio Highlights:

Prime Location: 95% of the portfolio is within Temple University’s campus patrol zone, ensuring safety and convenience for tenants—a key driver for retention and demand.

Strong Occupancy: The portfolio’s current occupancy rate is 97%, a testament to its quality and desirability.

Immediate Cash Flow: Generating $4.3 million in gross annual rent, this investment offers dependable income from day one.

Secure Payments: Student housing provides one of the safest rent-collection models, with rent typically secured by parental guarantors.

High-Quality Renovations: Many properties have been newly renovated with modern finishes. Over 20 properties feature roof decks, ensuring strong tenant demand and rentability.

Equity Growth Potential: Several properties offer value-add opportunities through strategic improvements to further enhance rental income and property value.

Attractive Cap Rate: With a Net Operating Income (NOI) of $3.2 million and a $50 million asking price, this portfolio offers a 6.3% cap rate, making it a compelling opportunity for investors seeking strong returns.
Why Invest in Temple University Rentals?

The Temple University area is experiencing a surge in student population, with a surge in freshman enrollment fueling demand for off-campus housing. Under its new leadership, Temple University is embarking on exciting revitalization projects aimed at enhancing campus infrastructure and surrounding neighborhoods, adding to the area’s growth and long-term appeal. This wave of optimism and investment is expected to further strengthen the market, making it an ideal time to secure a foothold in this high-demand area.

The 19121 development zone is a hotbed for growth, with nearby infrastructure improvements and rising property values adding to the appeal.
This portfolio combines immediate, stable cash flow with opportunities for long-term appreciation. Whether you’re a seasoned investor or new to the student housing sector, this offering delivers unmatched returns and growth potential.

Key Financials:
Price: $48 million
Gross Rent: $4.3 million annually
Net Operating Income: $3.1 million
Current Occupancy Rate: 97% (Currently 75% rented for the 25/26 lease term beginning August 1s)
Cap Rate: 6.4%

Student housing near Temple University is one of Philadelphia’s most lucrative and secure investments, making this portfolio a rare and attractive opportunity.
Contact us today to learn more or to schedule a discussion about this exceptional offering.

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Basic Details
  • Property Type: Commercial Sale
  • Listing Type: For Sale
  • Listing ID: PAPH2428992
  • Price: $48,000,000
  • Year Built: 2019
  • Lot Area: 0.04 Acre
  • Location: US, PA, PHILADELPHIA-PA, Philadelphia, 19121
  • Property Sub Type: Five Or More Units
  • Listing Status: Active
  • Cooling System: Central A/C
  • Heating System: Forced Air
Features & Appliances
Features
  • Sewer: Public Sewer
Ask Agent A Question Ask Agent A Question

Address Map Address Map
MLS Addon MLS Addon
  • Office Name: Keller Williams Realty Devon-Wayne
  • Agent Name: Michael Coleman
Additional Information Additional Information
  • Water Source: Public
  • On Market Date: 2025-02-28
  • Number Of Units Total: 3
  • Lot Size Dimensions: 16.00 x 98.00
  • Accessibility Features: None
  • Construction Materials: Masonry
  • Business Type: Apartment Building
Financial Financial
  • Tax Annual Amount: 1161.0
Listing Information Listing Information
  • Co List Agent Mls Id: 3359104
  • Co List Office Mls Id: KELWLMW
  • List Agent Mls Id: 3180966
  • List Office Mls Id: KELWLMW
  • MLS Status: ACTIVE-BRIGHT
  • Modification Timestamp: 2025-02-28T20:09:50Z
  • Status Change Timestamp: 2025-02-28T20:09:00Z
  • Co List Agent Full Name: Danielle Redenbaugh
  • Co List Office Name: Keller Williams Realty Devon-Wayne
  • Originating System Name: Bright