3716-18-20 Haverford Ave - Apartments FOR SALE


Philadelphia, PA 19104- West Philadelphia
$5,650,000 USD
267-205-1369
3716-18-20 Haverford Ave, Philadelphia, PA for Sale
$5,650,000 USD
Apartments - FOR SALE
1/14
null | 7.14% Cap Rate

3716-18-20 Haverford Ave
Philadelphia, PA 19104
West Philadelphia


HIGHLIGHTS

  • Fully Stabilized and 100% leased since construction
  • Great Unit Mix: 4, 3 and 2 beds with 1bed/1bath Ratio
  • These properties primarily attract young professionals and students from Drexel University, the University of Pennsylvania, and Medical Institutions
  • 2019 Newer construction with Real estate Tax Abatement in place.
  • Surrounded by world class universities and medical facilities

OVERVIEW

We are pleased to present a turnkey, fully leased investment opportunity in the highly desirable University City/Drexel and Mantua section of Philadelphia. This purpose-built student housing portfolio includes three properties located at 3716-18-20 Haverford Ave. The portfolio comprises 18 units with a total of 56 bedrooms and bathrooms, offering a diverse mix of 2, 3, and 4-bedroom units. Currently generating $512,000 in annual rental income, this investment boasts a 7.14% cap rate. These properties primarily attract students from Drexel University and the University of Pennsylvania, as well as medical staff and young professionals. Constructed just 5 years ago, the buildings are modern and up-to-date, with 5 years remaining on their property tax abatement. The generously sized units feature high-end finishes, including a 1 bed to 1 bath ratio and premium kitchen and bathroom fixtures. These attributes make the properties highly competitive compared to nearby student housing options, ensuring they remain easy to rent for years to come. Additional amenities include in-unit laundry, video surveillance entrances, sprinklered fire systems, high ceilings, large closets, luxury vinyl flooring, quartz countertops with stainless steel appliances, rooftop decks with skyline views, outdoor backyards, and more. This University City Student Housing Portfolio represents a tremendous opportunity to acquire strong-performing, never-vacant, and low-maintenance assets in a well-known, walkable, and bike-friendly neighborhood experiencing significant growth and expansion with major projects underway featuring over 33 million square feet of lab, residential, institutional, office, and public space in the pipeline at major developments like uCity Square and Schuylkill Yards, plus individual projects throughout the district.(ask me for more details on this). Conveniently located within walking distance to world-class universities, medical facilities, 30th Street Station, and the Art Museum, these properties also offer easy access to local highways.

FOR SALE DETAILS

PRICE

$5,650,000 USD

PRICE/SF

$113 USD /SF

# OF UNITS

18

PRICE/UNIT

$313,889

CAP RATE

7.14%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

2019

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.04 AC

LAND SF

1,742 SF

ZONING

RM1

APN/PARCEL ID

881818708,881818715

ASK ABOUT THIS PROPERTY

Reda AkbilCompassMore Info
267-205-1369

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Reda AkbilCompassMore Info
267-205-1369

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.