|
|
|
| Description |
 |
|
Please note - some pictures are virtually decluttered/emptied. Welcome to this rarely available property for sale on Carlisle St, right behind Temple University's James White Hall dorms. This 6 bed/2 bath house is rented out to a group of 4 students for $2695/mo, $32,340/year till July 31, 2026, with tenants paying all utilities. At $289,900 offered price, the evaluation is just below 9 GRM, which is amazing for the area while also being in one of the most desirable locations for students. Occupants love these houses for their spaciousness, character & most importantly - proximity to SEPTA, a 3-minute walk to campus and 7/11, pizzerias & other shops. A great thing about this property is that it offers immediate cash flow to a new property owner in its current condition and rent, while also providing room for sweat equity and higher rent. Similar 5-6 bed rental comps on the same block rent for $3000+, or in the future, the new owner could demolish and build a duplex, given its RM-1 zoning. Currently rented out to 4 students and in its current condition, this property can easily bring $3,000-$3,300 (which is only $500-550/room per bed when rented to a group of 6, which is still very affordable to students) after basic renovations, including replacing carpets, painting, light fixture upgrades, and kitchen & bathroom. A property management & a dedicated to the Temple University leasing team is available to assist with upkeeping the property and bringing that sweet cash flow. Inquire about the pro-forma sheet, but with 20% down, 6.5% interest rate, operational expenses like insurance, 5% of gross income allocation for vacancy, and 5% maintenance, the property would CASHFLOW $500/mo (please verify and do your own due diligence). Schedule your tour today! More properties are available for sale for package deals.
|
|
|
| Room Sizes |
|
|
|
|
| Location |
|
|
|
|
| Driving Directions |
|
|
|
|
| Details |
|
Architectural Type - Victorian
Basement - Improved
Appliances - Dishwasher, Washer, Dryer, Refrigerator
Exterior Features - Masonry
Cooling - Central A/C, Electric
Heating - 90% Forced Air, Electric
Hot Water - Electric
Sewer - Public Sewer
Water - Public
|
|
|
|
|
|
|
|
|
