1326 North 15 Street (Temple Univ)

1326 North 15th Street; Philadelphia, PA 19121

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Property Details

  • Price$ 2,400,000
  • Property TypeStudent Housing
  • NeighborhoodTemple Univ.
  • Number of Units11
  • Lot Size0.13 acres
  • Price/Unit$ 218,182
  • Price/Bedroom$ 85,714
  • Year Built2013

Investment Highlights

  • Newer Construction (2012-2013): Full Tax Abatement through 2022
  • Excellent Occupancy: 96%
  • Desirable Unit Mix: (55%) 3 Bedroom/3 Bath; (45%) 2 Bedroom /2 Bath
  • Fully Furnished Units: Beds, Workstations, Living Room and Dining Room Sets
  • Strong Submarket: 81% of Temple University Students Live Off Campus
  • Parking: Controlled Access Underground; 9 Spaces

Investment Overview
Rittenhouse Realty Advisors extends to qualified investors the opportunity to acquire the fee simple interest in Teach Solais (Light House) a newer construction apartment community situated one block from Temple University’s Main Campus in Philadelphia, Pennsylvania. With 17 schools and colleges and nine campuses, Temple University has a total student enrollment a little over 38,000. The University’s 105-acre Main Campus is located in North Philadelphia. Teach Solais and Temple University are strategically located next to SEPTA public transportation (subway, bus and regional rail), and are easily accessible via major transportation arteries including US Route 611 (Broad Street) and US Route 1 (Roosevelt Boulevard) as well Insterstate-95 and Interstate-76 (the Schuylkill Expressway).

Built in 2012-2013, Teach Solais is a multi-unit property that combines student housing with contemporary design and attractive amenities situated in an extremely desirable area just off Temple’s Main Campus. The three-story property includes 11,750+/- square foot of living space with a lower-level parking garage, bike storage, and utility locker topped with four stories of apartments. Teach Solais features 11 apartments with 2 bedroom/2 bath (45%) and 3 bedroom/3 bath (55%) configurations. Units are fully furnished with beds, workstations, dining room table/chairs, and a full living room set complete with a couch, coffee table, entertainment center and an arm chair. The building boasts an excellent bedroom to bathroom parity, extensive 26-camera monitored security system, and a common study lounge on the first floor. The roof of the building, accessed through the main staircase, presents potential investors with the opportunity to add the desirable amenity of a green roof and/or roof deck for tenant access. Teach Solais represents an opportunity to acquire newer student housing construction within one block of Temple University’s Main Campus in Philadelphia.

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NOTE: Outside Brokers must complete this Cooperating Broker Agreement and return via email to info@rittenhouserealty.com or fax to 267-324-3394.

Brokers

Ken Wellar
Tel: (215) 454-2852 EXT 1002
Cell: (610) 745-4800
License: PA RS289487 / NJ 1005492
ken@rittenhouserealty.com

Corey Lonberger
Tel: (215) 454-2852 EXT 1001
Cell: (267) 760-3726
License: PA RS279134 / DE RS0016407
corey@rittenhouserealty.com

Chris Egan
Tel: (215) 454-2852 EXT 1010
Cell: (609) 602-1782
License: PA RS317018
chris@rittenhouserealty.com

Mark Duszak
Tel: (215) 454-2852 EXT 1003
Cell: (215) 805-5011
License: PA RS277420 / NJ 0047530
mark@rittenhouserealty.com



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