Student Housing Near Temple University

1822 Willington Street; Philadelphia, PA 19121

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Property Details

  • Price$ 950,000
  • Property TypeStudent Housing
  • NeighborhoodTemple Univ Area
  • Number of Units4
  • Lot Size0.04 acres
  • Price/Unit$ 237,500
  • Price/Bedroom$ 55,882
  • Year Built1915/2013

Investment Highlights

  • Comprehensive Rehabilitation (2013): Full Real Estate Tax Abatement Through 2023
  • Excellent Occupancy: 100%
  • Desirable Unit Mix: (3) Four-Bedroom Units, (1) Five-Bedroom Unit
  • Strong Submarket: 81% of Temple University Students Live Off Campus
  • Excellent Location: Two Blocks from Temple University’s Main Campus

Investment Overview
Rittenhouse Realty Advisors extends to qualified investors the opportunity to acquire the fee simple interest in 1822-1824 North Willington Street, a rehabbed apartment community situated two blocks 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 in North Philadelphia. The subject properties and Temple University are strategically located adjacent 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 as Interstate-95 and Interstate-76 (the Schuylkill Expressway).

Renovated in 2013, 1822-1824 North Willington Street are multi-unit properties that combine student housing with contemporary design and attractive amenities situated in an extremely desirable area just off Temple’s Main Campus. The three-story properties are separately deeded with an independent entrance for each of the two buildings. Both buildings combine for a total of 3,786 square foot of living space. 1822-1824 North Willington Street features three apartments in four-bedroom configurations and one apartment in a five-bedroom configuration. Each unit has two full bathrooms and the first-floor units boast access to large rear yards and a finished full basement.

The demand for student housing off Temple’s campus is extremely high, keeping occupancy rates in this submarket consistently above 96%. 1822–1824 North Willington Street presents a tremendous opportunity to acquire newer construction student housing within two blocks of Temple University’s Main Campus.

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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
ken@rittenhouserealty.com

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

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

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

Seth Douglas
Tel: (215) 454-2852 EXT 1013
Cell: (717) 858-1821
License: PA RS336807
seth@rittenhouserealty.com

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



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