The York Apartments

The property consists of 320 units directly adjacent to Temple University, a sought-after and popular Philadelphia collegiate institution of 30,530 undergraduate and graduate students. Located just 1.5 miles from Center City Philadelphia and featuring over 500 degree programs, Temple continues to drive rental demand to the neighborhoods surrounding the university.The Investment Sales Team of Avison Young extends to qualified purchasers the opportunity to purchase The York Apartments (“The York”) at Temple University in Philadelphia, Pennsylvania. The property consists of 320 units directly adjacent to Temple University, a sought-after and popular Philadelphia collegiate institution of 30,530 undergraduate and graduate students. Located just 1.5 miles from Center City Philadelphia and featuring over 500 degree programs, Temple continues to drive rental demand to the neighborhoods surrounding the university. The York benefits from its recent construction and affordable rental rates, which position the apartments as a desirable living option in comparison to the multitude of expensive, mega-development housing projects surrounding campus. Additionally, this investment opportunity offers an unparalleled tax advantage due to its location within a Federal Opportunity Zone and proposed sale “pre-TCO” (standing for “pre-temporary certificate of occupancy”) allowing for a buyer to shelter capital gains invested into the project. Currently 95% complete, the property is being leased and managed by PeakMade Real Estate, a national student housing management firm with over 280 properties under management. This allows for a complete “hands-off” investment for buyers located across the country. Additionally, the current owner will ensure property stabilization to 95% occupancy for the 2024-2025 school year by escrowing rental payments at closing. The York is uniquely attractive in that it’s located within a Federal Opportunity Zone with pre-TCO status, has guaranteed income during in year one of ownership, and will have long-term price appreciation due to its location adjacent to a 30,530 student public university.