North Park Apartments

2359 N. Park Avenue; Philadelphia, PA 19132

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Property Details

  • Price$ 500,000
  • Property TypeMulti Unit Housing
  • NeighborhoodN Philadelphia East
  • Number of Units6
  • Lot Size0.04 acres
  • Price/Unit$ 83,333
  • Price/Bedroom-
  • Year Built1977

Investment Highlights

  • Renovated Units: All Units with New Kitchens and Baths
  • Strong Sub-Market: 81% of Temple University Students Live Off Campus
  • Desirable Unit Mix: (50%) Two-Bedroom/1 Bath; (50%) Studio
  • Outdoor Space: Multiple Private Outdoor Patios or Back Yard
  • Close Proximity and Easy Access to Center City Philadelphia: 2 Miles to Center City; Steps to SEPTA Bus, Subway, and Regional Rail Lines

Investment Overview
On behalf of ownership, Rittenhouse Realty Advisors extends to qualified investors the opportunity to acquire the fee simple interest in 2359 North Park Avenue. This student housing property is situated three blocks from Temple University’s Main Campus in Philadelphia, Pennsylvania, and only a half block from North Broad Street – Philadelphia’s busiest and most well-known thoroughfare. Located just steps away from SEPTA’s Broad Street Line Subway (York-Dauphin Station), this property offers great convenience to Center City Philadelphia as well as various bus routes and SEPTA’s Regional Rail. This property boasts an excellent unit mix of 50% studios and 50% two-bedroom units – two of the most popular unit types in the Temple University sub-market. Four of the six units feature private outdoor space in the form of a balcony, patio, or backyard which makes the units much more desirable for Temple University students.

The building includes two basic floor plans which feature updated appliances, bay windows, hardwood floors, and access to the laundry facilities in the shared basement space. The large windows allow for an abundance of natural light to infiltrate the units. 2359 North Park Avenue was recently updated and much of the deferred maintenance was remedied making this a great turn-key opportunity for a new or experienced investor in a strategic and improving location.

Offering Memorandum


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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 Duszak
Tel: (215) 454-2852 EXT 1003
Cell: (215) 805-5011
License: PA RS277420
mark@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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