1945 N Gratz St
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1945 N Gratz St
2 Unit Apartment Building $550,000 ($275,000/Unit) 7.11% Cap Rate Philadelphia, PA 19121
Executive Summary
Discover an exceptional investment opportunity at 1945 N. Gratz St., situated in the thriving Temple University area. This duplex was beautifully renovated in 2018 and still benefits from the remainder of a 10-year tax abatement! Fully occupied through July 2025, this property offers an ideal blend of modern amenities and convenience, attracting students and renters alike. **Unit A** features a thoughtfully designed layout with hardwood floors throughout, accommodating 3 spacious bedrooms, each with its own private bathroom, plus an additional half bath on the first floor. The unit's well-appointed kitchen opens to the living area and this unit features a fenced spacious back patio, perfect for outdoor gatherings and BBQs. Each bedroom is equipped with custom closets, providing ample storage space, a feature highly valued by tenants. **Unit B** boasts 5 generously sized bedrooms and 3 modern bathrooms, making it an attractive option for students seeking comfort and style. The kitchen, adorned with sleek white cabinetry, a large island and stainless steel appliances, offers a fresh, contemporary look. Carpeting throughout the bedrooms adds an extra layer of soundproofing, enhancing privacy and tranquillity. Both units are separately metered and include air conditioning for comfort during warmer months and a security system for peace of mind. This property not only meets the demands of the current rental market but also stands out as a lucrative investment in a sought-after location. Don't miss your chance to own this exceptional property in the heart of the Temple University area.
Financial Summary (Actual - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$46,920
|
$25.94
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$46,920
|
$25.94
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$7,819
|
$4.32
|
| Net Operating Income |
$39,101
|
$21.61
|
Financial Summary (Actual - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $46,920 |
| Annual Per SF | $25.94 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $46,920 |
| Annual Per SF | $25.94 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $7,819 |
| Annual Per SF | $4.32 |
| Net Operating Income | |
|---|---|
| Annual | $39,101 |
| Annual Per SF | $21.61 |
Property Facts
Unit Amenities
- Air Conditioning
- Stainless Steel Appliances
- Carpet
- Patio
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+3.5 | 1 | $1,800 | - |
| 5+3 | 1 | $1,900 | - |
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Transit Score ®
Excellent Transit (77)
zoning
| Zoning Code | RM1 (primarily intended to accommodate moderate-to-high density, multi-unit residential buildings in areas where such development already exists or where i) |
| RM1 (primarily intended to accommodate moderate-to-high density, multi-unit residential buildings in areas where such development already exists or where i) |
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1945 N Gratz St
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