Sometimes, as we’re galavanting about town, we’re inspired to get some inexpensive and delicious lunch from one of the many food trucks at Temple Main Campus. We were on such a trek yesterday and decided to take 15th St. south to get back to Center City. One particular project just a couple blocks south of campus caught our eye. 1326-28 N 15th St. is a pretty big new student housing project that sits on a lot that measures 40’x140′. It’s the depth of the project that really jumps out at you.
The lot, with all necessary approvals, was on the market for $315K up until the beginning of last month. We’re assuming that either a buyer stepped in and it hasn’t been reflected in public record, or the original owners, 1326 Associates LLC, simply decided to build the thing themselves.
According to the listing, the property will have six 3 bed/3 bath units and five 2 bed/2 bath units, adding up to rooms for twenty-eight students. There will also be ten indoor parking spaces. Predicted rental rates are listed at $625/mo, adding up to over $17K per month in rental income. Kind of makes you wonder they couldn’t find a buyer after six months on the market and several price reductions.
Next week, we’ll fill you in on some of the other student housing projects we spotted in the area. Not to sound like a broken record here, but the Temple student housing boom doesn’t seem to be slowing down any time soon.
You’d have to think that Bill Cosby is feeling pretty good these days.