1700 CECIL B MOORE AVENUE
20 UNITS | 63 BEDROOMS | 1 COMMERCIAL UNIT | TEMPLE UNIVERSITY
Marketing description
The Cecil B. Moore Temple Portfolio presents investors with a rare opportunity to acquire a student-focused multifamily asset situated on the high-traffic Cecil B. Moore Avenue corridor in North Philadelphia, directly adjacent to Temple University. The Portfolio comprises 20 residential units (63 bedrooms) and one ground-floor commercial unit, offering an attractive mix of income stability and long-term upside potential in a supply-constrained student housing submarket.
The current unit mix is comprised predominantly of 3- and 4-bedroom units, which align with student demand for shared living arrangements. Importantly, three of the original six-bedroom units are being strategically converted into modernized three-bedroom layouts to improve rentability, appeal to smaller groups, and reduce tenant turnover and management complexity. This repositioning effort is currently underway and is the primary reason for the temporary 30% residential vacancy, which is expected to normalize upon completion of the conversions and the upcoming leasing cycle.
Investment highlights
Student Housing at the Core Temple University: Location Situated on a high-visibility corridor just steps from campus, the asset benefits from perennial rental demand and is walkable to Temple University’s main academic buildings and public transit
(3) Six-Bedroom Units Being Converted: Three former 6-bedroom apartments are in the process of being converted into three-bedroom layouts, creating more marketable units, reducing lease-up friction, and aligning with the evolving preferences of student renters
Temporary Vacancy Creates Immediate Upside: The current occupancy reflects in-progress renovations; Post-conversion, stabilized occupancy is expected to return to ±95% as the updated 3-bedroom units are leased at market rents
Strong Cap Rate with Growth Potential: Offered at a 7.8% in-place cap rate, the deal provides investors with immediate income and a clear path to enhance value through lease-up and rent increases
Commercial Income Stability: Ground floor commercial space leased at $3,000 per month ($36,000 per year) through August 2025 provides diversified income
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