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Listed by Or Aharon • Keller Williams Liberty Place
$ 885,000
Est. payment | /mo
2,140 Sqft Lot
$ 885,000
Est. payment | /mo
2,140 Sqft Lot
Key Details
Property Type Commercial
Sub Type Five Or More Units
Listing Status Active
Purchase Type For Sale
Subdivision Temple University
MLS Listing ID PAPH2632238
Year Built 2014
Annual Tax Amount $7,175
Tax Year 2026
Lot Size 2,140 Sqft
Acres 0.05
Lot Dimensions 20.00 x 107.00
Property Sub-Type Five Or More Units
Source BRIGHT
Property 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 7.22% 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.
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 7.22% 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.
Location
State PA
County Philadelphia
Area 19132 (19132)
Zoning RM-1
Interior
Hot Water Electric
Heating Central
Cooling Central A/C
Heat Source Electric
Exterior
Garage Spaces 2.0
Water Access N
Accessibility None
Total Parking Spaces 2
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Philadelphia City
Others
Tax ID 881070802
Ownership Fee Simple
Special Listing Condition Standard
NEARBY SCHOOLS & PROPERTIES