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    1511 N 16TH Street

    PHILADELPHIA, PA 19121
    • $1,099,000
    • STATUS: Active
    • ON SITE: 207 days
    • ID#: PAPH988574
    Price Reduced
    UPDATED: 70 min ago
    $1,099,000
    • 0
      BEDS
    • 0.1
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 4,698
      SQFT
    • $234
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1915
    County:

    School Ratings & Info

    Description

    CALLING ALL INVESTORS!!!!! If your investors are looking for a Value-add property in the Temple market they have come to the right place. Welcome to 1511 N 16th St, a beautiful building close to Temple University in North Philadelphia! This large property and land run street to street with the main building hosting 4 Units and the carriage house in the back with plans designed for 4 additional Units. As of now Unit A and B are Vacant and Unit C is currently 75% Occupied at $610 a Bed total Rental income for Unit C is $1,830/month. The 4th unit, Unit D, is currently Vacant as it requires a complete rehab. My team already has plan designs and drawings (See Documents Section) from an architect to turn unit D into a desirable 2 Bed 2 Bath rental and to turn the Carriage house the back into 4, 1 Bedroom 1 Bathroom apartments. We have an estimated construction cost of 350K for the project which puts this fully occupied and developed at a 8.5% Capitalization rate in a great area. The Seller is willing to pay a full year rent for any of the Vacant Units in the main building. This is an ideal property for any new or seasoned investors looking to get into the Temple Student housing market. Please contact me for plan designs and drawings for one or both properties. Call or email me or my co-listing agent for the offering memorandum or just to hear more information on these incredible investment opportunity

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    ©2021 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use 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 may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or Paula Cashion | Keller Williams Central Delaware. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2021-09-21T23:52:41.997.
    www.paulacashion.com/homes/114554970
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    1511 N 16TH Street PHILADELPHIA, PA 19121

    • Price: $1,099,000
    • Status: Active
    • Updated: 70 min ago
    • ID#: PAPH988574
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.1
    Acres
    4,698
    SQFT
    $234
    $/SQFT
    1915
    Built
    Neighborhood:
    19121 (19121)
    County:
    Philadelphia
    Area:
    19121 (19121)
    School District:
    The School District Of Philadelphia
    Property Description
    CALLING ALL INVESTORS!!!!! If your investors are looking for a Value-add property in the Temple market they have come to the right place. Welcome to 1511 N 16th St, a beautiful building close to Temple University in North Philadelphia! This large property and land run street to street with the main building hosting 4 Units and the carriage house in the back with plans designed for 4 additional Units. As of now Unit A and B are Vacant and Unit C is currently 75% Occupied at $610 a Bed total Rental income for Unit C is $1,830/month. The 4th unit, Unit D, is currently Vacant as it requires a complete rehab. My team already has plan designs and drawings (See Documents Section) from an architect to turn unit D into a desirable 2 Bed 2 Bath rental and to turn the Carriage house the back into 4, 1 Bedroom 1 Bathroom apartments. We have an estimated construction cost of 350K for the project which puts this fully occupied and developed at a 8.5% Capitalization rate in a great area. The Seller is willing to pay a full year rent for any of the Vacant Units in the main building. This is an ideal property for any new or seasoned investors looking to get into the Temple Student housing market. Please contact me for plan designs and drawings for one or both properties. Call or email me or my co-listing agent for the offering memorandum or just to hear more information on these incredible investment opportunity
    Exterior Features

    Architectural Style Unit/Flat Construction Materials Masonry Garage YN No Other Structures Above GradeBelow Grade Parking Types On Street Pool No Pool Riparian Rights YN No Water Access YN No Water Oriented YN No Water View YN No Waterfront YN No

    Interior Features

    Above Grade Fin SQFT 4698 Basement Other Basement YN Yes Below Grade Finished Area 0 Below Grade Unfinished Area 0 Cooling Central A/C Fireplaces Total 1 Heating Forced Air Heating YN Yes Single Room Units 0 Three Bedroom Units 0 Two Bedroom Units 0

    Property Features

    Accessibility Features None Assessment Year 2021 Association YN No Central Air YN Yes Cooling Fuel Electric Heating Fuel Electric Hot Water Electric Municipality Philadelphia Navigable Water YN N New Construction YN No Number Of Units Total 2 Original MLSNumber 304481778647 Ownership Interest Fee Simple Possession Immediate Property Sub Type Other Sale Type Standard Sewer Public Sewer Structure Design Type Twin/Semi-Detached Tax Annual Amount 5539.00 Tax Assessment Amount 395683.00 Tax Lot 66 Vacation Rental YN No Water Source Public Zoning Rm1

    Listing courtesy of Keller Williams Philly.


    ©2021 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use 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 may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or Paula Cashion | Keller Williams Central Delaware. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2021-09-21T23:52:41.997.
     
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    Paula Cashion | Keller Williams Central Delaware
    1671 S. State Street
    Dover DE, 19901