Excellent investment opportunity! The Lofts at Cumberland are situated right off North Broad Street only blocks from Temple University. The property is an ideal conversion of a former warehouse building to 17 one bedroom lofts? with all contemporary finishes and without the price tag of New York or Northern Liberties. Welcome to the new loft district! The Lofts at Cumberland offer easy access to major routes, hospitals, and universities, Center City, and points North. Offering a contemporary urban feel, this completely renovated building is rapidly becoming a community landmark. Spacious bi-level loft living areas with an abundance of natural light and character, each with a unique layout that takes advantage of historic warehouse elements and contemporary finishes. Recent improvements exceeds $400,000 and includes contemporary kitchens with granite counter tops, newly renovated bathrooms, Stainless steel appliances, exposed brick & stone, Hard surface flooring throughout & 24 hour video security system. First pioneered by artists in garret-styled "live and work" spaces, loft apartments today are popular because they offer a creative and dynamic use of space, lots of light and an open feel. Designed to maximize security and style, these light-filled one bedroom units are excellent for entertaining, and always impress with dramatic high ceilings. The building also features a 3 bedroom town home, in need of updating, which will add significant income or an excellent space for the property manager or owner. Monthly rent roll is $14,400 producing $172,800 in gross income per year. Annual expenses are $36,000 per year. One year leases with options to re-new. Annual income will grow to $182,000 by January 2017 with a capitalization rate of 8.3%. There is significant development planned in the area including a proposed & approved 259 unit Temple Student Housing project adjacent to the Lofts at Cumberland. Call Agent for more details.,Walkable to the conveniences, dining and shopping options of North Broad Street, the Lofts at Cumberland are also within walking distance of public transportation at North Broad Street Station and North Philadelphia Station. Center City night life is just minutes away, not to mention the exciting arts scene of Old City, Northern Liberties, Fishtown, and Kensington. Temple University Hospital and Temple University anchor North Broad Street to the North and South of Cumberland Street. Just a block away, Fotterall Square is an unsung asset to the neighborhood, offering open space with a baseball diamond, recreational areas, playground and basketball courts.