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1534 N 16th St
Philadelphia, PA 19121
34 Units - OWL'S NEST @ TEMPLE UNIVERSITY · Multifamily Property For Sale
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28 Units
Investment Highlights
- BRAND NEW FURNISHED BUILDING
- PERENNIAL RENTAL DEMAND
- ACCESS TO TEMPLE UNIVERSITY MAIN CAMPUS
Executive Summary
PRICE IMPROVED BY $499K: Owl's Nest Apartments @ Temple University. This best-in-class furnished apartment building with 69-beds has been renovated from top-to-bottom with excellent proximity to Philadelphia's largest university by enrollment, as well as the booming North Broad District, Fairmount and Francisville neighborhoods. With 28 units (1's, 2's and 3's) plus common amenities, Owl's Nest Apartments is poised to become a legacy asset at Temple — insulated by perennial rental demand in a high-growth / appreciating location. Located just a few blocks from Main Campus, as well as Septa's North Broad subway line, The Property boasts tremendous curb appeal and visibility. Each apartment is fully furnished—truly plug-and-play turnkey rentals. Amenities include study rooms, fitness center, Amazon dropbox and resident lounge. Utilities (and wifi) are included in the rent. Purchase this exceptional multifamily real estate in a Top-10 USA MSA. 10 year tax abatement (pay taxes based on assessed land value rather than improved value), low maintenance and operating costs. Enquire within for financials.
Property Facts
| Price Per Unit | $351,750 CAD | Apartment Style | Mid-Rise |
| Sale Type | Investment | Building Class | B |
| Cap Rate | 7.70% | Lot Size | 0.15 AC |
| No. Units | 28 | Building Size | 21,120 SF |
| Property Type | Multifamily | No. Stories | 4 |
| Property Subtype | Apartment | Year Built | 1950 |
| Zoning | RM1 | ||
| Price Per Unit | $351,750 CAD |
| Sale Type | Investment |
| Cap Rate | 7.70% |
| No. Units | 28 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.15 AC |
| Building Size | 21,120 SF |
| No. Stories | 4 |
| Year Built | 1950 |
| Zoning | RM1 |
Amenities
Unit Amenities
- Air Conditioning
- Microwave
- Heating
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
- Freezer
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Public Transportation
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 1 | - | 482 |
| 2+1 | 13 | - | 504 - 650 |
| 3+2 | 14 | - | 621 - 862 |
Property Taxes
| Parcel Number | 881146641 | Improvements Assessment | $6,825,404 CAD |
| Land Assessment | $758,378 CAD | Total Assessment | $7,583,783 CAD |
Property Taxes
Parcel Number
881146641
Land Assessment
$758,378 CAD
Improvements Assessment
$6,825,404 CAD
Total Assessment
$7,583,783 CAD
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