$7,500,000 USD
908-642-1905
HIGHLIGHTS
- THE INVESTMENT: Magnolia Park Apartments is a classic 48-unit garden complex built in 1960 that is spread between three parcels, located in Camden, N
- STRONG UNIT MIX: Magnolia Park Apartments has an ideal apartment unit mix of 24 one-bedroom apartments and 24 two-bedroom apartments.
- LONG-TERM OWNERSHIP: Magnolia Park Apartments has been owned, cared for, and managed by current ownership for over a decade.
- VALUE-ADD: Value-add opportunity, with 17% below market for rents in a municipality with vacancy decontrol.
- IDEAL RESIDENCE: The property is centered around a large fenced-in courtyard with 4, 8, and 12-unit buildings, including on-site parking and laundry.
FOR SALE DETAILS
PRICE
$7,500,000 USD
PRICE/SF
$250 USD /SF
# OF UNITS
48
PRICE/UNIT
$156,250
CAP RATE
6.11%
% LEASED
100%
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY NAME
Magnolia Park Apartments
PROPERTY TYPE
Multi-Family
APARTMENT STYLE
Garden
PROPERTY SUBTYPE
Apartments
TOTAL BUILDING SIZE
-
STORIES
2
YEAR BUILT
1960
PARKING SPACES
30
LAND DETAILS
LAND ACRES
2.1 AC
LAND SF
91,502 SF
ZONING
-
APN/PARCEL ID
08-01268-0000-00028,08-01268-0000-00030,08-01268-0000-00033,08-01268-0000-00035
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908-642-1905
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908-642-1905
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