$300,000
$319,000
6.0%For more information regarding the value of a property, please contact us for a free consultation.
1,031 Sqft Lot
SOLD DATE : 11/05/2023
Key Details
Sold Price $300,000
Property Type Vacant Land
Sub Type Land
Listing Status Sold
Purchase Type For Sale
MLS Listing ID PAPH2220672
Sold Date 11/05/23
HOA Y/N N
Originating Board BRIGHT
Annual Tax Amount $195
Tax Year 2021
Lot Size 1,031 Sqft
Acres 0.02
Property Description
The Cumberland St property comprises 16 shovel- ready one-bedroom apartments, perfectly situated in
the growing Temple town neighborhood just outside Temple University’s campus. Its prime location offers
easy access to various amenities, making it an ideal residence for students, young professionals, and small families alike.
Each apartment is designed with modern amenities, ensuring residents experience a comfortable and convenient lifestyle. At an estimated rent of $1,122 per unit, the property boasts a strong annual rental
income of $215,424, making it a highly attractive investment opportunity for potential landlords.
The project is fully shovel-ready, with all necessary permits, approvals, and infrastructure in place for immediate construction. Thanks to the site’s easy accessibility and favorable topography, the construction process is expected to be smooth and hassle-free.
The building’s architecture is both stylish and modern, utilizing the latest building techniques and materials to ensure structural safety and longevity. Additionally, the design maximizes natural light and ventilation, creating a bright and airy atmosphere that enhances the living experience.
For investors looking to add a stable and reliable income stream to their portfolio, 715-717 Cumberland St presents an excellent investment opportunity. With its prime location, modern amenities, and easy rental potential, the property is sure to attract tenants quickly and generate a healthy return on investment.
Location
State PA
County Philadelphia
Area 19133 (19133)
Zoning RM1
Exterior
Waterfront N
Water Access N
Garage N
Building
Sewer Public Sewer
Water Public
Schools
School District The School District Of Philadelphia
Others
Tax ID 371383301
Ownership Fee Simple
SqFt Source Estimated
Special Listing Condition Standard
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Bought with Marc Silver • Compass RE
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "