1199-1201 Columbia Ave - Apartments FOR SALE


Lansdale, PA 19446
$5,500,000 USD
215-454-2878
1199-1201 Columbia Ave, Lansdale, PA for Sale
$5,500,000 USD
Apartments - FOR SALE
1/10
null | 7% Cap Rate

1199-1201 Columbia Ave
Lansdale, PA 19446


HIGHLIGHTS

  • Value-Add Multifamily Asset: Opportunity to increase rents by 15% to 20% by renovating kitchens and baths
  • Efficient Unit Mix: 32-Unit community offering 20 two-bedroom units (63%) and 12 one-bedroom units (37%)
  • Prime Lansdale Location: Walkable to Downtown Lansdale's main street shops and dining
  • Strong Regional Connectivity: Convenient access to Route 63, Route 202, and the Northeast Extension of I-476
  • Stable Demand Drivers: Proximity to major employers including Merck (West Point Campus), and the broader Montgomery County employment base

OVERVIEW

Inglewood Gardens Apartments is a 32-unit property located at 1199 and 1201 Columbia Avenue in Lansdale, Pennsylvania. The Property is walkable to the heart of the up-and-coming borough of Lansdale, major transit, and amenities, offering residents a quality of life steps from a bustling, walkable downtown culture while still being in a neighborhood location. The two garden-style brick buildings consist of 32 apartment units. The extensive unit mix offers (12) one-bedroom/one-bath units averaging $1,029 per month and (20) two-bedroom/one-bath units averaging $1,150 per month, offering buyers significant upside potential on the rents. All 32 units offer generous layouts and on-site laundry facilities. The in-place rents, which are well below the market average in the area, offer the ability to increase rents by 20% with kitchen and bathroom renovations. This allows new ownership to drive rental upside through modest improvements and improved operational management. Set within walking distance of the center of the borough of Lansdale, Inglewood Gardens offers residents immediate access to daily amenities, local retail, parks, dining, and schools. The location is within 1 mile of the regional railway, offering residents easy access to the heart of Philadelphia and New York City. Its centralized location on Route 63 offers easy access to Willow Grove and Fort Washington. Route 202 running right past Lansdale gives the opportunity to get to King of Prussia, the Greater Philadelphia region, and Wilmington. Residents will find easy access to public transportation not only outside of Lansdale but within its revitalized town center. Its location allows renters to attend the highly acclaimed North Penn School District, which is a top-rated school district in Pennsylvania. With its premium location, excellent value-add opportunity, spacious one- and two-bedroom layouts, and built-in value-add potential, Inglewood Gardens Apartments offers an opportunity for investors seeking a stable, well-positioned apartment asset with exceptional latent potential.

FOR SALE DETAILS

PRICE

$5,500,000 USD

PRICE/SF

$149 USD /SF

# OF UNITS

32

PRICE/UNIT

$171,875

CAP RATE

7%

% LEASED

97%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Inglewood Gardens

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1959

PARKING SPACES

36

LAND DETAILS

LAND ACRES

1.19 AC

LAND SF

51,836 SF

ZONING

SC; GA

APN/PARCEL ID

53-00-01920-007,53-00-01924-003

ASK ABOUT THIS PROPERTY

215-454-2878

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215-454-2878

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