$729,300
SOLD FEB 7, 2020
-- Bed
-- Bath
3,045 Sq Ft
1,163 Sq Ft Lot

Recently Sold

$240 Per Sq Ft

1% Below List Price

About This Home

As of February 2020

This new construction property is a fully occupied 10 bedroom duplex leased for $6,700 per month through 8/1/2020, and is being offered at an 8.3% cap rate. The property is located just a few blocks from the Temple University main campus, has the remainder of a 10 year tax abatement, and is surrounded by new student development. The property features a full rear yard and roof deck, which allows it to command a premium over market rents. The building consists of two 5 bedroom bi-level units, each with access to a private outdoor space. The building includes a roof deck which is very unique for student rental properties at Temple University. Each unit has 4 bathrooms, creating an above-average bed-bath ratio that attracts renters to the property. The Temple University rental market has been consistently strong over the last several years, with average rent prices increasing on new construction inventory. The property is located on a main street, with several multi-family projects just completed within the last 12 months, and additional projects on the way. With increased demand for new construction inventory in the immediate area, this offering presents the opportunity to acquire a unique student development in a rapidly appreciating market with the ability to increase rent over time.

Last Agent to Sell the Property

Jonathan Beaulieu

jon.beaulieu@jbmpgroup.com JBMP Group Listed on: 11/01/2019

Last Buyer's Agent

Bob Roman

(215) 901-1100 bobroman@kw.com Keller Williams Real Estate Tri-County

Keller Williams Real Estate Tri-County

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $1,052

Year Built

  • Built in 2017

Lot Details

  • 1,163 Sq Ft Lot
  • Lot Dimensions are 15.00 x 77.50

Home Design

  • 3,045 Sq Ft Home
  • Duplex
  • Masonry

Utilities

  • Central Heating and Cooling System
  • Electric Water Heater

Community Details

  • No Home Owners Association
  • 3 Units
  • Temple University Subdivision

Listing and Financial Details

  • Tax Lot 149
  • Assessor Parcel Number 321206300

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,052

Year Built

Built in 2017

Lot Details

0

Listing Details

  • Property Type: Multi-Family
  • Property Sub Type: Duplex
  • Structure Type: End Of Row/Townhouse
  • Ownership: Fee Simple
  • New Construction: No
  • Expected On Market: 2019-11-01
  • Year Built: 2017
  • Remarks Public: This new construction property is a fully occupied 10 bedroom duplex leased for $6,700 per month through 8/1/2020, and is being offered at an 8.3% cap rate. The property is located just a few blocks from the Temple University main campus, has the remainder of a 10 year tax abatement, and is surrounded by new student development. The property features a full rear yard and roof deck, which allows it to command a premium over market rents. The building consists of two 5 bedroom bi-level units, each with access to a private outdoor space. The building includes a roof deck which is very unique for student rental properties at Temple University. Each unit has 4 bathrooms, creating an above-average bed-bath ratio that attracts renters to the property. The Temple University rental market has been consistently strong over the last several years, with average rent prices increasing on new construction inventory. The property is located on a main street, with several multi-family projects just completed within the last 12 months, and additional projects on the way. With increased demand for new construction inventory in the immediate area, this offering presents the opportunity to acquire a unique student development in a rapidly appreciating market with the ability to increase rent over time.
  • Special Features: None

Interior Features

  • Basement: No
  • Total Sq Ft: 3045
  • Living Area Sq Ft: 3045
  • Price Per Sq Ft: 243.02
  • Above Grade Finished Sq Ft: 3045
  • Above Grade Finished Area Units: Square Feet
  • Street Number Modifier: 2114

Exterior Features

  • Other Structures: Above Grade, Below Grade
  • Construction Materials: Masonry
  • Water Access: No
  • Waterfront: No
  • Water Oriented: No
  • Pool: No Pool
  • Tidal Water: No
  • Water View: No

Garage/Parking

  • Garage: No

Utilities

  • Central Air Conditioning: Yes
  • Cooling Fuel: Electric
  • Cooling Type: Central A/C
  • Heating Fuel: Electric
  • Heating Type: Central
  • Heating: Yes
  • Hot Water: Electric
  • Sewer/Septic System: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • HOA: No

Schools

  • School District: THE SCHOOL DISTRICT OF PHILADELPHIA
  • School District Key: 300200397108
  • School District Source: Listing Agent

Green Features

  • Clean Green Assessed: No

Lot Info

  • Land Assessed Value: 75183.00
  • Land Use Code: W50
  • Lot Size Acres: 0.03
  • Lot Dimensions: 15.00 x 77.50
  • Lot Size Units: Square Feet
  • Lot Sq Ft: 1163.00
  • Year Assessed: 2020
  • Zoning: RM1

Rental Info

  • Total Actual Rent: 80400.00
  • Units Leased Count: 2
  • Vacation Rental: No

Tax Info

  • Assessor Parcel Number: 1073712
  • School Tax: 577.00
  • Tax Annual Amount: 1052.00
  • Assessor Parcel Number: 321206300
  • Tax Lot: 149
  • Tax Total Finished Sq Ft: 3045
  • Tax Data Updated: No
  • Tax Year: 2020
  • Close Date: 02/07/2020

Multi Family

  • Other Units: Unit 1,Unit 2

MLS Schools

  • School District Name: THE SCHOOL DISTRICT OF PHILADELPHIA

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Nov 1, 2019
Closed on
Feb 7, 2020
Sold by
Gesk Properties Llc
Bought by
Abduelal Zead Yousif and Abduelal Waleed Y
Seller's Agent
Jonathan Beaulieu
JBMP Group
Buyer's Agent
Bob Roman
Keller Williams Real Estate Tri-County
List Price
$740,000
Sold Price
$729,300
Premium/Discount to List
-$10,700
-1.45%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
-0.45%
Original Mortgage
$546,975
Outstanding Balance
$484,308
Interest Rate
3.6%
Mortgage Type
New Conventional
Estimated Equity
$226,625

Purchase Details

Closed on
Nov 25, 2016
Sold by
Chase Investments Llc
Bought by
Gesk Properties Llc A Nj Llc

Purchase Details

Closed on
Sep 14, 2015
Sold by
Pitts Isaac Robert and Estate Of Ronald J Pugh
Bought by
Chase In Vestments Llc

Purchase Details

Closed on
May 14, 1985
Bought by
Pugh Ronald J
Source: Public Records

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Type Sale Price Title Company
Deed $729,300 None Available
Deed $615,000 None Available
Deed $80,869 None Available
Quit Claim Deed $7,900 --
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Open $546,975 New Conventional
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
04/23/2025 04/23/25 For Sale $715,000 -2.0% $235 / Sq Ft
02/07/2020 02/07/20 Sold $729,300 -1.4% $240 / Sq Ft
12/07/2019 12/07/19 Pending -- -- --
11/01/2019 11/01/19 For Sale $740,000 -- $243 / Sq Ft
Source: Bright MLS

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $1,662 $599,200 $119,800 $479,400
2024 $1,662 $599,200 $119,800 $479,400
2023 $1,662 $593,800 $118,700 $475,100
2022 $1,052 $118,700 $118,700 $0
2021 $1,052 $0 $0 $0
2020 $1,052 $0 $0 $0
2019 $999 $0 $0 $0
2018 $9,799 $0 $0 $0
2017 $1,004 $0 $0 $0
2016 $1,004 $0 $0 $0
2015 $1,088 $0 $0 $0
2014 -- $81,200 $7,398 $73,802
2012 -- $928 $184 $744
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Bright MLS

MLS Number: PAPH843916

Bright MLS

APN: 321206300