1406 WILLINGTON STREET
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.