2318 N Park Ave,PHILADELPHIA, PA 19132
PHILADELPHIA, PA 19132
Description
Agent PHL is delighted to present 2318 N Park Ave, an exceptional multifamily investment opportunity in the heart of the thriving Temple University submarket. Constructed in 2014 and meticulously maintained by the original owner, this 6-unit, 10-bedroom property exemplifies modern convenience and low-maintenance appeal. Each unit is designed to maximize tenant satisfaction, featuring contemporary finishes, spacious layouts, and large windows that flood the interiors with natural light, creating a warm and inviting atmosphere. Adding to its allure is the convenience of two on-site parking spaces, a rare and highly coveted amenity in this dense urban neighborhood. The property is strategically located just two blocks from Temple University's main campus, placing it within walking distance of classrooms, amenities, and the university's vibrant social scene. This prime location has made the property a preferred choice for off-campus student housing, ensuring consistent demand and high occupancy rates. The building is currently 100% leased, generating a robust Net Operating Income (NOI) of $63,904 and offering investors an attractive 7.84% Cap Rate. Surrounded by similar off-campus housing developments, the property benefits from a stable rental market and steady appreciation potential. Its modern construction and strong operating performance make 2318 N Park Ave an outstanding addition to any multifamily portfolio.
Details
| MLS # | PAPH2632238 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active Under Contract-bright |
| Year | 2014 |
| Days On Site | 125 |
| Listing Provided By | Keller Williams Liberty Place | Or Aharon |
Features
| Story(s) | 4 |
|---|---|
| Zoning | RM-1 |
| Acreage | 0.05 |
Interior
| Cooling | Central A/C |
|---|---|
| Heating Yes / No | Yes |
| Heating | Central |
Exterior
| Construction Materials | Masonry |
|---|
Parking
| Garage Yes / No | No |
|---|
Taxes
| Tax Annual Amount | 7175 |
|---|
Area Information
| State | PA |
|---|---|
| County | PHILADELPHIA PA |
| City | PHILADELPHIA |
| Zip Code | 19132 |
| Area | 19132 (19132) |
| Community Name | TEMPLE UNIVERSITY |
| School District | PHILADELPHIA CITY |
| Listing VS Median (in TEMPLE UNIVERSITY) | |
Price: $815,000 low | high Med: $199,999 On site: 125 low | high Med: 22 | |
Market Activity 19132
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Learn More About This Property
| State | PA |
|---|---|
| County | PHILADELPHIA PA |
| City | PHILADELPHIA |
| Zip Code | 19132 |
| Area | 19132 (19132) |
| Community Name | TEMPLE UNIVERSITY |
| School District | PHILADELPHIA CITY |
| Listing VS Median (in TEMPLE UNIVERSITY) | |
Price: $815,000 low | high Med: $199,999 On site: 125 low | high Med: 22 | |
