300 Penn St - Apartments FOR SALE


Pennsburg, PA 18073
$4,000,000 USD
646-712-7360
300 Penn St, Pennsburg, PA for Sale
$4,000,000 USD
Apartments - FOR SALE
1/9
null | 6.62% Cap Rate

300 Penn St
Pennsburg, PA 18073


HIGHLIGHTS

  • Adaptive Loft Community: Historic steel and brick silk factory transformed in 2023 into 14 high-end modernized units
  • High-End Finishes & Amenities: All units feature granite countertops, stainless steel appliances, dishwashers, and in-unit washer and dryer
  • Newly Renovated Asset: 2023 gut renovation delivers modern interiors and building systems while keeping the classic steel and brick exterior
  • Unique Investment Opportunity: New multifamily redevelopment offers a one-of-a-kind premium luxury building that doesn’t currently exist anywhere else
  • Convenient Location: Direct access to Route 663 and Route 29 links residents to the Northeast Extension of the PA Turnpike

OVERVIEW

Silk Factory Lofts is a boutique 14-unit adaptive reuse apartment community located at 300 Penn Street in Pennsburg, Pennsylvania. Originally constructed in 1925 as a working silk factory, the steel and brick structure maintains its historical significance to this day. Converted in 2023, the new, one-of-a-kind loft residences meld authentic industrial-era architecture with modern, high-end living. The result is a residential experience unlike any other in the Upper Perkiomen Valley. The 14 units consist of a balanced mix of one- and two-bedroom loft-style residences. The Property includes (1) one bedroom, one and a half bath unit with a loft and private deck, renting for $2,100 per month, (2) one bedroom, one and a half bath units averaging $1,998 per month, and (2) one bedroom, one bath units averaging $1,625 per month, (7) two bedroom, two bath units with lofts averaging $2,286 per month and (2) two bedroom, two bath units averaging $1,875 per month. The distinctive character creates this pricing power, raised ceilings, and light-filled open layouts. Given the uniqueness of this asset and its historically strong occupancy, investors can increase rents steadily over time. Completed in 2023, the full gut renovation preserves the building's historical steel and brick skeleton while delivering premium systems, finishes, and functionality of new construction. Kitchens are complete with granite countertops, stainless steel appliances, dishwashers, and garbage disposals. Every unit also features its own washer and dryer. On-site parking and smartphone intercom access complement the well-thought-out renovations. Lofts provide flexible living and storage spaces, an increasingly valuable amenity for renters in today's market. The combination of historic character and turnkey condition allows buyers to acquire a steady, income-producing asset with minimal deferred maintenance and proven top-of-the-market rents. Silk Factory Lofts is ideally situated in the heart of Pennsburg, the commercial center of Montgomery County’s Upper Perkiomen Valley, with an abundance of retail and restaurants within walking distance. Residents enjoy direct access to Route 663 and Route 29, linking tenants to the Northeast Extension of the PA Turnpike, Quakertown, and Pottstown. Grand View Hospital, St. Luke’s Upper Bucks Campus, Lehigh University, DeSales University, and Muhlenberg College are all Nearby. With its irreplaceable adaptive reuse character, newly full-gut renovated condition, and premium loft product, Silk Factory Lofts represent a rare opportunity to acquire a stabilized, multifamily asset with durable cash flow and appreciation potential. Unique positioning, historic architecture, modern construction, and a proven rent profile make the Property an exceptional long-term hold in one of the county's most stable and steadily improving rental markets.

FOR SALE DETAILS

PRICE

$4,000,000 USD

PRICE/SF

$309 USD /SF

# OF UNITS

14

PRICE/UNIT

$285,714

CAP RATE

6.62%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

SILK FACTORY LOFTS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

2023

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.73 AC

LAND SF

31,799 SF

ZONING

R2

APN/PARCEL ID

15-00-02527-005

ASK ABOUT THIS PROPERTY

Luke DeLucaGREAMore Info
646-712-7360

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Luke DeLucaGREAMore Info
646-712-7360

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