2031 N 19TH Street

Description

Don't miss out on this Turn-key investment property! Check out this income-producing off-campus student housing property near Temple University! The moment you purchase, you start making money. Both units have LEASES SIGNED and are FULLY OCCUPIED for the 2022-2023 academic year. Leases end at the end of July 2023 (7/22/23). There is a 10-year tax abatement in place beginning in 2014. Enjoy this almost tax fee investment for a year with signed leases putting this building at over a 7.8% cap rate!Built in 2013, this this meticulously maintained property offers two 4 bedroom 2 bathroom units. Both units feature hardwood floors, granite countertops, shaker cabinetry, tiled bathrooms, a dishwasher, and washer/dryer in each unit. The lower unit has a spacious and well maintained patio attached to the rear room. This really is a turnkey investment property. Ready to make you money while steps to Temple University Main Campus where tenants emerge looking for off-campus housing every year making it easy to find new tenants if current tenants don't renew. This has been a rock solid investment producing a great consistent return for the current owner for many years! Both units are FULLY leased for the 2022-2023 school year. Leases end at the end of July 2023. Gross annual income with the current leases signed is $45,000 with estimated yearly expenses at $5,902 which includes taxes, insurance, and the water bill which the current owner pays. With an estimated net operating income of $39,098, this building offers excellent investment value. Priced to reflect a 7.82% cap rate, this property will be a great addition to any investor+GGs portfolio! Ask your agent for the links to the video tours for both units. This is a remarkable addition for the savvy investor so don't miss out! Schedule an appointment to take a look in-person or via live video tour right away!