1432 N Broad Street (Temple Univ Area)

1432 N. Broad Street; Philadelphia, PA 19121

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Property Details

  • Price$ 1,425,000
  • Property TypeStudent Housing
  • NeighborhoodTemple Univ. Area
  • Number of Units7
  • Lot Size0.10 acres
  • Price/Unit$ 203,571
  • Price/Bedroom$ 75,000
  • Year Built1920

Investment Highlights

  • Outstanding Unit Mix: 86% 2, 3, and 4 Bedroom Units
  • Great Value-Add Opportunity: Potential to Reposition the Asset
  • Excellent Location in Temple University Market: Located One Block from Main Campus on North Broad Street
  • Strong Sub-Market: 81% of Temple University Students Live Off Campus
  • Close Proximity and Easy Access to Center City Philadelphia: 1.5 Miles to Center City; Steps to SEPTA Bus, Subway and Regional Rail Services

Investment Overview
On behalf of the ownership, Rittenhouse Realty Advisors extends to qualified investors the opportunity to acquire the fee simple interest in 1432 N. Broad Street, a student housing property situated less than one block of Temple University’s Main Campus in Philadelphia, Pennsylvania. With 17 schools and colleges and nine campuses, Temple University has a total student enrollment of just over 38,000. The University’s 105-acre Main Campus is located in North Philadelphia. 1432 N. Broad Street is strategically located next to SEPTA public transportation (subway, bus and regional rail), and is easily accessible via major transportation arteries including US Route 611 (Broad Street) and US Route 1 (Roosevelt Boulevard) as well as Interstate-95 and Interstate-76 (the Schuylkill Expressway).

This property is very well located within Temple University’s bustling student housing market, situated one block from the center of campus on North Broad Street – Philadelphia’s busiest, most well-known thoroughfare. This particular section of North Broad Street is anticipated to be one of the city’s most active development corridors over the next few years.

Built in 1920 and renovated in 2005, 1432 N. Broad Street is a multi-unit property featuring 7 apartment units and 19 bedrooms. This property has an excellent unit mix of (1) studio, (2) two-bedroom units, (2) three-bedroom units, and (2) four-bedroom units. The building includes a variety of unique and spacious floorplans.

The property at 1432 N. Broad Street presents an excellent opportunity for new and experienced investors, offering a turnkey investment in a strategic location.

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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

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

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

Douglas Emrich
Tel: (215) 454-2852 EXT 1005
Cell: (610) 733-8482
License: PA RS320748
doug@rittenhouserealty.com



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