200 Spruce St - Apartments FOR SALE


Doylestown, PA 18901
$10,250,000 USD
732-630-1000
200 Spruce St, Doylestown, PA for Sale
$10,250,000 USD
Apartments - FOR SALE
1/36
null | 6% Cap Rate

200 Spruce St
Doylestown, PA 18901


HIGHLIGHTS

  • Located in Doylestown historic downtown district
  • Large rooms, tons of storage and laundry on site/ in unit
  • Significant growth potential through rent increases

OVERVIEW

30-Unit Garden-Style Apartment Investment Opportunity Stabilized Asset | Strong Tenant Profile | Significant Rent Growth Potential An exceptional opportunity to acquire a well-maintained, stabilized 30-unit multifamily property ideally located within walking distance of downtown Doylestown, Pennsylvania. The property consists of 30 market-rate apartments across three attractive garden-style buildings, thoughtfully arranged around a private central courtyard. The property offers residents a quiet, well-maintained residential setting while providing convenient access to the restaurants, shops, entertainment, and amenities of downtown Doylestown. A Stable Asset With Built-In Upside The property is currently fully stabilized with a long-term tenant base and market-rate apartments. Residents are carefully screened through a rigorous application and background-check process, resulting in a strong, well-qualified tenant profile and consistent occupancy. Perhaps most importantly for an investor, current rents are below comparable properties in the market, providing a compelling opportunity for a new owner to increase rents over time and unlock additional NOI without relying on a major renovation or repositioning strategy. Key Investment Highlights 30-unit stabilized multifamily property Three garden-style apartment buildings Private central courtyard 100% market-rate apartments Well-maintained property with strong physical condition Long-term, well-qualified tenant base Rigorous tenant screening process Rents currently below comparable properties Significant embedded rent-growth opportunity Walkable to downtown Doylestown Convenient access to restaurants, shops, nightlife, entertainment, and local amenities Value-add potential with a relatively low-risk path to increased NOI The Investment Story This is an opportunity to acquire a stable, cash-flowing multifamily asset with meaningful upside already built into the existing rent roll. Rather than taking on a heavy renovation or lease-up project, a new owner can acquire a well-maintained property with established occupancy and a proven tenant base, while gradually capturing the gap between current rents and market rents. The combination of stability, quality tenancy, attractive physical condition, walkable location, and below-market rents makes this an especially compelling opportunity for an investor seeking both current income and long-term appreciation potential. A rare opportunity to acquire a well-positioned 30-unit multifamily property in one of the area's most desirable walkable locations—with stable operations today and significant upside tomorrow.

FOR SALE DETAILS

PRICE

$10,250,000 USD

PRICE/SF

$663 USD /SF

# OF UNITS

30

PRICE/UNIT

$341,667

CAP RATE

6%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Spruce Court Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1963

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.5 AC

LAND SF

65,340 SF

ZONING

FC

APN/PARCEL ID

08-005-192,08-005-193

ASK ABOUT THIS PROPERTY

Chris LombardiLombardi ResidentialMore Info
732-630-1000

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Chris LombardiLombardi ResidentialMore Info
732-630-1000

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.