Astoban Realty Group (ARG) - Philadelphia, PA – Luxury Condominiums

1406 WILLINGTON STREET

Details

  •   Multi-family
  •   -
  •   -
  •  $695,000

Property Description

This newly constructed property is a fully occupied 9 bedroom duplex leased for $5,810 per month through 8/1/2021, and is being offered at a 7.6% cap rate. The property is located just a few blocks from the Temple University main campus, has the remainder of a 10 year tax abatement, and is surrounded by new student development. The property features a full rear yard and roof deck, which allows it to command a premium over market rents. The building consists of a lower 4 bedroom bi-level unit and an upper 5 bedroom bi-level unit, each with access to a private outdoor space. The building includes a roof deck which is very unique for student rental properties at Temple University. The Temple University rental market has been consistently strong over the last several years, with average rent prices increasing on new construction inventory. The property is located just south of campus between Francisville and Temple, with tons of surrounding student and market-rate developments. With increased demand for new construction inventory in the immediate area, this offering presents the opportunity to acquire a unique student development in a rapidly appreciating market with the ability to increase rent over time or transition to market rate renters.

Details

Property Title: 1406 WILLINGTON STREET
Listing ID: PAPH1005438
Status: PENDING
Sqft: 2,466 Sqft
Year Built: 2016
Property Sub Type: Duplex
Price Per SQFT: $282

Features

HOA YN: N
Basement Type: Full
Carport Spaces Count: 0
Construction Materials: Masonry
New Construction YN: N
Architectural Style: Other
Cooling Fuel: Electric
Heating Fuel: Electric
Hot Water: Electric
Water Frontage Length: 0
Pool Private YN: N
Water Access YN: N
Waterfront YN: N

Address Map

Street Suffix: STREET
Street Dir Prefix: N
Street: WILLINGTON
Street Number Numeric: 1406
Directions: .
Floor Number: 0

MLS Addon

Office Name: JBMP Group
Agent Name: Jonathan Beaulieu
Original MLS Name: Bright
Sub System Locale: BRIGHT_MAIN
Total Taxes Pymnt Freq: Annually
Vacation Rental YN: N
Major Change Type: Domp
HOA Fee Freq: Monthly
List Agent MLS ID: 3268594
List Agent Email: jon.beaulieu@jbmpgroup.com
List Office Key: 121328954922
SchoolDistrictName: THE SCHOOL DISTRICT OF PHILADELPHIA
Above Grade Fin SQFT: 2,466 Sqft
Building Total SQFT: 0 Sqft
Levels/Stories: 0
Structure Type: Interior Row/townhouse
Total SQFT: 2,466 Sqft
Short Sale: No
Sale Type: Standard
Tax Annual Amount: $2,274
Tax Year: 2021
Zoning: RM1
Sewer Septic: Public Sewer
Water Source: Public
1
Astoban Realty Group, LLC ("ARG") is a licensed real estate broker located in the Commonwealth of Pennsylvania. No representation is made as to the accuracy of the information in this floor plan, and such information is subject to errors, omission, and change. All information in this floor plan is deemed reliable, but is not guaranteed accurate. The plan herein depicts existing conditions for graphic representation purposes only and should be used as such by the prospective purchaser or tenant. All square footage and dimensions are approximate. Exact dimensions can be obtained by retaining the services of a professional architect or engineer. The number of bedrooms listed above is not a legal conclusion. Each person should consult with his/her own attorney, architect or zoning expert to make a determination as to the number of rooms in the unit that may be legally used as a bedroom. ARG actively supports equal housing opportunities.
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