1915 N Gratz St, Philadelphia, PA 19121

Property Description

INVESTOR ALERT — 24 HOURS NOTICE REQUIRED FOR ALL SHOWINGS. Ground-up new construction triplex completed in 2015, a short walk from Temple University's Main Campus. Ten bedrooms and ten bathrooms — true one-to-one parity, so every bedroom in the building has its own bathroom, which almost no competing stock in this submarket delivers. Unit 1 — 4 bed / 4 bath — $1,700/mo. Unit 2 — 2 bed / 2 bath — $1,250/mo. Unit 3 — 4 bed / 4 bath — $1,700/mo. Total $4,650/mo, or $55,800 annually on the 26/27 contract, and rent collected in the trailing year came in ahead of contract. Not a conversion: built new in 2015, with the major systems still young. Water is more than fully recovered from tenants, so the utility line runs negative for the year, and operating expenses run 26.1% of effective gross income — the tightest in this portfolio. The ten-year tax abatement expired after 2025 and the 2026 bill is carried in full, so an incoming owner inherits the tax line as shown. Owner's operating statement available to qualified buyers.