424 N Black Horse Pike - Apartments FOR SALE
Runnemede, NJ 08078 |
424 N Black Horse Pike
Runnemede, NJ 08078
HIGHLIGHTS
- Significant Upside Through Renovation: Renovated units have achieved an average rent 70% higher than unrenovated legacy units.
- Below Market Rents: Ownership has prioritized leasing the property to secure cash flow over maximizing rent.
- No Rent Stabilization: The Portfolio is in a municipality that is not subject to rent stabilization or rent control.
- Desirable Residential Neighborhood: The neighborhood features dozens of small businesses in addition to major national retailers.
- Strong Location for Commuters: There is a bus station immediately in front of both properties and Exit 3 of the New Jersey Turnpike is less than one m
- Philadelphia MSA: The Portfolio is just 8 miles from Center City Philadelphia, the sixth most populous city in the U.S.
FOR SALE DETAILS
PRICE
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# OF UNITS
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CAP RATE
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% LEASED
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BUILDING DETAILS
PROPERTY NAME
Regent Court Apartments
PROPERTY TYPE
Multi-Family
APARTMENT STYLE
Low-Rise
PROPERTY SUBTYPE
Apartments
TOTAL BUILDING SIZE
17500
STORIES
2
YEAR BUILT
1960
PARKING SPACES
14
LAND DETAILS
LAND ACRES
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LAND SF
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ZONING
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APN/PARCEL ID
30-00048-0000-00001
