Just four blocks from the main Temple University campus in Philly, we found a shell hidden on a quiet block. With the need for student housing and the quickly changing neighborhoods expanding just blocks away, we thought that this shell could generate excellent near term income as a three story house outfitted for today’s student housing needs – by adding an additional full bathroom to the third floor and a half bath on the main floor, as well as a high end kitchen and security system. The contractor ran into financial trouble and we missed the start of the semester. We quickly pivoted and signed a two year lease for 100% of the rent from section 8. In the meantime, the surrounding homes on the block have been purchased by investors, new construction has been completed on the block and the value has risen by at least 30% in two years.
