If you are an investor looking for a safe, turnkey student rental property that has never been empty even during COVID, is low maintenance, and is rented out till July 25, 2025 (potentially 2026) this is the property for you! $57,418 NOI, 8.83% CAP. This 2016 new construction duplex has a rare 8 bed | 8 bath set up so it is always in demand with Temple students. It is located on the popular and in demand 17th block of Monument Street, only a 7-minute walk to the main campus, one of the key reasons why this property is easy to rent out. The units have modern appliances, private washers and dryers, central AC & heating, intercoms and they are well-maintained by the tenants. All the bedrooms can fit queen-sized beds, desks, and dressers and have well-sized closets which is exactly what every tenant needs. Both units get a lot of natural light and are around 1250 sq ft each. Unit 1 has access to a large backyard and unit 2 is a bit bigger than unit 1. Here is a full financial breakdown with income and estimated expenses -
Income: $62,400, common area electricity: $432. Water - $1044. Taxes - $1,458 (2 years left on tax abatement). Trash -$500. Rental license - $120. Insurance - $1,428. Offered at $650,000, this property is priced at 8.83% CAP which is great for a newer construction building, and at $650/room, it has the potential to grow up to $675-$700 with some cosmetic upgrades! Property management and leasing are on standby if the buyer elects to hire assistance with the property. Call us with any questions and schedule your tour today!