305 S Warminster Rd - Apartments FOR SALE


Hatboro, PA 19040
$6,000,000 USD
215-454-2852
305 S Warminster Rd, Hatboro, PA for Sale
$6,000,000 USD
Apartments - FOR SALE
1/10
null | 7% Cap Rate

305 S Warminster Rd
Hatboro, PA 19040


HIGHLIGHTS

  • Pride of Ownership: First Time Property is Being Offered For Sale Since 1998; Well Maintained; Long-Term Family Ownership
  • Value-Add Opportunity: In-Place Rents up to $300 Below Market; Ability to Increase Rents with Renovation to Kitchens & Baths
  • Strong Unit Mix: 100% Two-Bedroom Townhome Style Units; 1,000± SF
  • Top-Rated School District: Situated within Upper Moreland School District
  • High-Occupancy Market: 95% or Higher Occupancy Rate in Horsham/Willow Grove Sub-Market

OVERVIEW

This provides a rare opportunity to acquire a well-maintained, low-density multifamily asset offering significant upside potential to prospective buyers. Located in the desirable Horsham/Willow Grove Submarket of Montgomery County, Pennsylvania, this 22-unit garden-style townhome community offers a compelling combination of stabilized operations, below-market rents, and in-demand unit features. Situated on a generous 1.94-acre parcel in Upper Moreland Township, Pine Grove Townhomes consists of (4) two-story buildings constructed in 1971. The Property features spacious townhome units, each with private entrances, in-unit washers and dryers, full basements, eat-in kitchens, walk-in closets, and oversized bedrooms. The two-bedroom bi-level units average 1,000± square feet. These features - uncommon in today’s rental market - make Pine Grove highly attractive to families and long-term tenants seeking comfort and convenience in a suburban setting. The Property is currently stabilized with average in-place rents of approximately $1,939 per unit. Market data indicates that similar units in this area can achieve monthly rents of $2,200 or more. This presents an immediate opportunity for investors to capture over 13% in rental upside, either through natural tenant turnover or light value-add improvements. With 45 surface parking spaces (a ratio of roughly 2 spaces per unit), Pine Grove also provides ample off-street parking, further enhancing its appeal. Located within the highly regarded Upper Moreland School District and offering easy access to major roadways such as Route 611 and the Pennsylvania Turnpike(I-276), Pine Grove benefits from strong regional connectivity and proximity to retail, dining, and employment hubs. This location, combined with the property's residential feel and strong school district, supports ongoing demand and tenant retention. Pine Grove Townhomes is a Class “B” asset in a fundamentally strong and stable suburban Philadelphia submarket. With its strong in-place cash flow, desirable unit layouts, and clear path to income growth, it offers investors an ideal mix of stability and upside in one of Montgomery County’s most consistently performing rental markets.

FOR SALE DETAILS

PRICE

$6,000,000 USD

PRICE/SF

$235 USD /SF

# OF UNITS

22

PRICE/UNIT

$272,727

CAP RATE

7%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

PINE GROVE TOWNHOMES

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1971

PARKING SPACES

45

LAND DETAILS

LAND ACRES

1.94 AC

LAND SF

84,594 SF

ZONING

M, Upper Moreland

APN/PARCEL ID

59-00-17977-009

ASK ABOUT THIS PROPERTY

215-454-2852

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215-454-2852

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