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Temple University Student Housing
OUTSTANDING LOCATION ONE BLOCK FROM TEMPLE UNIVERSITY
Built in 2005, Sydenham Commons an apartment community situated less than one block of Temple University’s Main Campus in Philadelphia, Pennsylvania. This four-story property includes 36,540± square feet of living space with 27 apartments in one bedroom (33%) and two-bedroom (67%) configurations.
VALUE-ADD OPPORTUNITY WITH STRONG UPSIDE
Rents are currently 20% below market rents in the vicinity. There is strong potential to replace existing units that have dated finishing with modern finishing to get rent bumps. The property has not been managed and there are significant cost savings that we can achieve post-closing.
EXCELLENT TRANSPORTATION CONNECTIVITY
With 17 schools and college and nine campuses, Temple University has a total student enrollment a little over 38,000. The University’s 105-acre Main Campus is located in North Philadelphia. Sydenham Commons and Temple University are strategically located next to SEPTA public transportation (subway, bus and regional rail), and are easily accessible via major transportation arteries including US Route 611 (Broad Street) and US Route 1 (Roosevelt Boulevard) as well Interstate-95 and Interstate-76 (the Schuylkill Expressway).
Minimum Investment: $50K
Cash on Cash Return: 8%