Pending
52

1406 N WILLINGTON ST PHILADELPHIA, PA 19121

$695,000

Bedrooms

Total Baths

Full Baths

2,466

Square Feet

0.03

Acres

2016

Year Built

49 days

On Website

Pending

Status

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.

Listed By JBMP Group

Details


Interior
Living Area
2,466 SqFt.

Building And Construction
Number Of Units Total
2
Property Sub Type
Multi Family
Property Type
Residential Income
Year Built
2016

Exterior And Lot
Lot Size Acres
0.03
Lot Size Square Feet
1136
Lot Size Units
Square Feet
Pool
No Pool
Zoning
RM1

Utilities
Cooling
Central A/C
Cooling Fuel
Electric
Heating
Central
Heating Fuel
Electric
Hot Water
Electric

Area And Schools
City
Philadelphia
County Or Parish
Philadelphia
High School District
The School District Of Philadelphia
Municipality
Philadelphia

Financial Info
Buyer Agency Compensation
2.5%
Short Sale
No
Tax Annual Amount
$2,274.00
Tax Year
2021

Additional Info
Close Date
2021-07-30t04:00:00.000z
Price Per SQFT
281.83
School Tax
1248.00
Status Detail
Pending
Tax Total Finished SQFT
2466
TaxDataUpdatedYN
N
Total Below Grade SQFT
0
Total SQFT
2466

Listing By JBMP Group

MLS# PAPH1005438

Data Last Updated 12:19am - 07/31/2021

BRIGHT MLS

The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which RE/MAX Millennium participates, and is provided by BRIGHT through a licensing agreement. The information provided by this website is for the personal, non-commercial use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale on this website may no longer be available because they are under contract, have closed or are no longer being offered for sale. Information Deemed Reliable But Not Guaranteed. Copyright© 2021 Bright MLS. All rights reserved.

19121 Statistics and Information

Data provided by Maponics

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