Philadelphia Family Housing Portfolio 24 biens | Immeuble residentiel | Philadelphia, PA

The Investment Sales Team of Avison Young is pleased to present qualified investors with the opportunity to acquire the Philadelphia Family Housing Portfolio. The portfolio comprises 83 units totaling 284 beds across 28 separate addresses in Philadelphia, PA. The individual properties range from one- to seven-bedroom units and are all located within a five-minute walk of one another, resulting in operational efficiencies, management economies of scale, and diversification among rental rates appealing to a broad renter base in the area.

In early 2024, the portfolio was repossessed by the lender, resulting in a period of severe mismanagement. Following repossession, the current owner has invested approximately $1,500,000 in property improvements and repairs including new roofs, mechanical systems, portfolio wide electronic access keypads, and unit renovations. As a result, no near-term capital improvements are anticipated.

The Philadelphia Family Housing Portfolio’s unique unit mix and infill location provides optionality for investors. The portfolio is currently leased primarily to students; however, Section 8 rental rates exceed in-place rents significantly, with stronger market demand for Section 8 renters seeking larger units with convenient access to public transportation.

Despite the diverse unit mix, each unit features hardwood flooring, granite countertops, stainless steel appliances, contemporary cabinetry, and in unit washers and dryers.

Overall, the Philadelphia Family Housing Portfolio offers a compelling opportunity to acquire meaningful scale at a significant discount to replacement cost, with in-place rents significantly below market for affordable housing in the area.