1433 W Norris Street
Philadelphia, PA 19121

Inquire about 3D video tours, floor plans, and video walkthroughs!Here is your opportunity to purchase a turn-key property, leased until July 31, 2025. Ideal for a 1031 Exchange, this investment features a building with a 9.77 Gross Rent Multiplier (GRM), offering tax deductions and appreciation potential. Located just a 30-second walk from the Norris & Broad St intersection, it's an excellent location for Temple University students and their parents, ensuring peace of mind and convenience.The building was completely renovated in 2011, with Unit 1 receiving a complete renovation in Summer 2023. From August 1, 2024, to July 31, 2025, the building will generate $6,555 monthly, totaling $78,660 annually. The tenants, who are Temple University students, are in joint leases and have qualified co-signers. The landlord covers water, trash pick-up, and cleaning of common areas. An estimated 7.75% CAP rate is exceptional for this setup and location. The units are easy to rent and manage due to the proximity to the school and their setups:Unit 1: 4 bed/4 bath, $2800 + $80 water feeUnit 2: 3 bed/2 bath, $1800 + $75 water feeUnit 3: 3 bed/1 bath, $1725 + $75 water feeThe owner has maintained the property well, requiring minimal upkeep from the new landlord. All units boast central AC & heating, separate washers and dryers, and electric appliances. Schedule your tour today or explore our virtual tours!