3716-18-20 Haverford Ave
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3716-18-20 Haverford Ave
18 Unit Block of Flats £4,420,843 (£245,602/Unit) 7.14% Net Initial Yield Philadelphia, PA 19104
Investment Highlights
- Fully Stabilized and 100% leased since construction
- These properties primarily attract young professionals and students from Drexel University, the University of Pennsylvania, and Medical Institutions
- Surrounded by world class universities and medical facilities
- Great Unit Mix: 4, 3 and 2 beds with 1bed/1bath Ratio
- 2019 Newer construction with Real estate Tax Abatement in place.
Executive Summary
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.
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.
Data Room Click Here to Access
- Offering Memorandum
Financial Summary (Actual - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | £4,420,843 | Building Class | C |
| Price Per Unit | £245,602 | Lot Size | 0.04 AC |
| Sale Type | Investment | Building Size | 150,000 SF |
| Net Initial Yield | 7.14% | Average Occupancy | 100% |
| No. Units | 18 | Number of Floors | 4 |
| Property Type | Residential | Year Built | 2019 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Mid Rise |
| Price | £4,420,843 |
| Price Per Unit | £245,602 |
| Sale Type | Investment |
| Net Initial Yield | 7.14% |
| No. Units | 18 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Mid Rise |
| Building Class | C |
| Lot Size | 0.04 AC |
| Building Size | 150,000 SF |
| Average Occupancy | 100% |
| Number of Floors | 4 |
| Year Built | 2019 |
| Opportunity Zone |
Yes |
Unit Amenities
- Washer/Dryer
- Heating
- Kitchen
- Refrigerator
- Oven
- Stainless Steel Appliances
- Range
- Tub/Shower
- Walk-In Closets
- Freezer
- Vinyl Flooring
- Quartz Countertops
Site Amenities
- 24 Hour Access
- Controlled Access
- Video Patrol
- Rubbish Collection - Kerbside
- Roof Terrace
- Public Transportation
- Smoke Detector
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Walk Score ®
Very Walkable (80)
Bike Score ®
Biker's Paradise (98)
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | £1,914,170 | |
| Land Assessment | £320,898 | Total Assessment | £2,235,068 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
£320,898
Improvements Assessment
£1,914,170
Total Assessment
£2,235,068
zoning
| Zoning Code | RM1 (a zoning designation for multi-family residential areas) |
| RM1 (a zoning designation for multi-family residential areas) |
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3716-18-20 Haverford Ave
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