3800 Elmerton Ave - Apartments FOR SALE


Harrisburg, PA 17109- Progress/Colonial Park
$2,625,000 USD
215-531-7021
3800 Elmerton Ave, Harrisburg, PA for Sale
$2,625,000 USD
Apartments - FOR SALE
1/57
null | 6.33% Cap Rate

3800 Elmerton Ave
Harrisburg, PA 17109
Progress/Colonial Park


HIGHLIGHTS

  • 21 Units in Harrisburg, Pennsylvania
  • Value Add Opportunity Through Rent Increases
  • Delivered Free and Clear of Debt
  • Spacious Floorplans & Favorable Unit Mix Consisting of Over 75% Two-Bedroom Units
  • Convenient Location: Proximate to I-81, I-83, Shopping, and Dining

OVERVIEW

Marcus & Millichap is pleased to present for sale the Parktowne Apartments – A 21-unit community located in Harrisburg, Pennsylvania. The property consists of two brick buildings with pitched roofs on an attractive site. Parktowne is located conveniently near I-81 and I-83. Numerous shopping and dining opportunities are just a short drive away. The list price of $2,625,000 is well below replacement cost. The unit mix consists of five one-bedroom units and 16 two-bedroom units. Each building has laundry facilities and off-street parking. An investor has the ability to increase rents with unit upgrades. The buildings will be delivered free and clear of debt, allowing an investor to use new debt. Parktowne represents a unique opportunity to purchase a stable apartment community with upside at a great basis. Harrisburg apartment fundamentals are strong, as evidenced by the rents achieved in the comparable properties.

FOR SALE DETAILS

PRICE

$2,625,000 USD

PRICE/SF

$134 USD /SF

# OF UNITS

21

PRICE/UNIT

$125,000

CAP RATE

6.33%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Parktowne Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1964

PARKING SPACES

22

LAND DETAILS

LAND ACRES

3.66 AC

LAND SF

159,430 SF

ZONING

-

APN/PARCEL ID

62-025-003

ASK ABOUT THIS PROPERTY

Clarke TaloneMarcus & MillichapMore Info
215-531-7021

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

Clarke TaloneMarcus & MillichapMore Info
215-531-7021

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