Our team here at Ark7 has been continuously working to further democratize real estate investing. We listened to your feedback and heard many of our investors pointing us toward short-term rental endeavors and value-added constructions. Today, we come to you with the exciting advancement of a new investment property that combines both desires in Philly, Pennsylvania. This property also comes with some interest-raising additions that take both Ark7 and your investments to the next level.
Other than being a hub of history and culture, Philadelphia is a city where the supply of homes is limited, the demand wildly high, and the interest rates are low. It’s the second-largest city on the east coast and is known as a city of “firsts,” such as the creation of the US’s first newspaper and becoming the country’s first industrial center. Now, it will be the location of our first value-added, short-term rental property!
What makes the property so unique
Philadelphia City Council passed new rules on real estate intended for Airbnb properties. It requires the homes to be up to a high standard, have a commercial activity and rental license, and be correctly zoned for short-term rentals. Fortunately, Ark7 already conducted our due diligence during property acquisition to make sure that our property is allowed to be offered as a short-term rental property in accordance with city law. What this means for us is that fewer homes will meet the requirements, the Philly market pool will be smaller, and our property can be more desirable.
When Ark7’s excellence in fractional real estate investing is paired with Airbnb’s ease of renting, both the renter and investor are happy! Over 800 million people have already stayed at Airbnbs, and there are always more people looking to book. Airbnb is a user-friendly rental platform that allows for efficient booking, support and communication for renters. With Ark7 managing guests and bookings, and Airbnb managing relations, all that’s left for you to do is reap the reward of monthly dividends!
Not only will our local partner use Airbnb, but they will also use a multitude of other booking and travel websites to capitalize on short-term rentals. Our professional team is skilled in handling management and can offer confidence in stable returns.
The Philadelphia property currently has an estimated short-term rental return of 5%, but after an upgrade project, that number will likely rise to 7.05%+. This will bring the estimated annual total return including appreciation to 18.45%+. The project is estimated to be completed in the next 3 months. The property will grow from 3 bedrooms and 1 bathroom up to 4 bedrooms and 3 bathrooms, including the newest remodeled basement. It will accommodate up to five separate Airbnb users, increasing overall rental income capabilities.
This property has limited market capacity. Property shares are now set at $120/share and are in high demand.
Our current Seed/A1 users will have early access to purchasing shares on Oct 7th at 10:00 am PDT, before the public launch on Oct 9th at 10:00 am PDT. Look out for an email notification for when you can start investing in the Philly property!