Rare opportunity to acquire a distinctive 9-unit multifamily property just blocks from Temple University's Main Campus. 1517 N 15th Street combines historic architectural character with a compelling value-add investment profile in one of Philadelphia's established university rental corridors. The property features an impressive Second Empire-inspired design with a substantial cut-stone… Read More fae7;ade, ornate architectural detailing, and signature mansard roofline. The building contains a diverse unit mix of one studio, four 1-bedroom units, three 2-bedroom units, and one 3-bedroom/3-bath unit. Seven of the nine units are currently occupied, with two vacant units providing an immediate lease-up opportunity. The stabilized rent schedule projects approximately $11,750 per month / $141,000 annually in gross rental income. The property is being offered strictly AS-IS, WHERE-IS, with all existing conditions, providing investors the opportunity to acquire the asset in its current condition and implement their own renovation, management, and value-add strategy. Seller will make no repairs or improvements prior to closing. Conveniently located near Temple University, neighborhood retail, dining, SEPTA, and Center City, 1517 N 15th Street offers substantial scale, architectural character, and a defined path toward stabilization. Read Less
Courtesy of Or Aharon, Keller Williams Liberty Place 609-399-5454
Listing Snapshot
Days Online
59
Last Updated
Property Type
Triplex
Square Ft.
6,872
Lot Size
0.08 Acres
Year Built
1915
MLS Number
PAPH2671426
Additional Details
Basement
Partially Finished
Building
Built in 1915, Built in 2013 (effective), Living area: 6872, Construction Materials: Masonry, Stone
Cooling
Wall Unit
Accessibility Features
None
Expenses
Operating: $39,524
Heating
Baseboard - Electric
Income
Gross Income: $141,000, Net Operating Income: $101,476, Laundry, Apartment Rentals
Lot
0.08 acres
Property
Average, Other structures: Above Grade, Below Grade, City
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