90 Monroe Blvd - Apartments FOR SALE


King Of Prussia, PA 19406- Valley Forge/King of Prussia
$52,950,000 USD
215-454-2878
90 Monroe Blvd, King Of Prussia, PA for Sale
$52,950,000 USD
Apartments - FOR SALE
1/13
null | 6% Cap Rate

90 Monroe Blvd
King Of Prussia, PA 19406
Valley Forge/King of Prussia


HIGHLIGHTS

  • Core Asset: 160-Unit garden-style community located on ±17 acres in the highly sought-after King of Prussia submarket
  • True Value-Add Opportunity: In-place rents (averaging ±$1.77 PSF), significantly trail competitive properties (ranging up to $3.13 PSF)
  • Recent Capital Investments: Recent capital improvements include roof replacements and HVAC upgrades (±50% units)
  • Strong Occupancy: Currently 98% occupancy, historically running at 97% to 100%
  • Spacious Layouts & Unique Features: Include private patios or balconies, large kitchens with modern appliances and in-unit washers and dryers
  • Unmatched Accessibility to Regional Employment Hubs & Major Highways

OVERVIEW

Global Real Estate Advisors (GREA) exclusively presents the opportunity to acquire the fee simple interest in Henderson Square Apartments, a 160-unit garden-style apartment community on ±17.4 acres, located in the thriving King of Prussia sub-market of Montgomery County, Pennsylvania. Henderson Square I (128 units) was built in 2000 and Henderson Square II (32 units) was built in 2004, and held by original ownership since construction, the Property offers a compelling blend of stabilized operations, significant rental upside, and an unmatched location in one of the most dynamic and supply-constrained rental markets in the Greater Philadelphia Region. Henderson Square features an attractive unit mix of spacious one- and two-bedroom residences, with one-bedroom apartments averaging ±900 square feet and two-bedroom apartments averaging ±1,200 square feet. Each home is outfitted with premium features, including private entrances, full-size in-unit washers and dryers, gas heating, private patios or balconies, and large open layouts that cater to today’s suburban renters. Select units have recently been renovated to include modern finishes, achieving higher rents, thereby paving a clear path for continued value creation through additional light renovations. The Property is currently 98% occupied with strong in-place rents, underscoring its operational stability and the strength of renter demand in the King of Prussia submarket. Surrounded by premier retail, dining, and entertainment, including the King of Prussia Mall and Town Center, the property also benefits from proximity to major employers such as UGI Corporation, CSL Behring, Lockheed Martin, and the Children’s Hospital of Philadelphia. These demand drivers, paired with limited new multifamily supply, contribute to consistently strong market fundamentals. Situated just off Routes 202 and 422 and minutes from I-76 and the PA Turnpike, Henderson Square offers residents seamless access to key employment hubs in King of Prussia, Plymouth Meeting, Conshohocken, and Center City Philadelphia. This exceptional connectivity further enhances its appeal to a broad tenant base of professionals, healthcare workers, and corporate renters. Henderson Square Apartments presents investors with a rare opportunity to acquire a well-maintained, multifamily asset in a premier suburban location. With proven demand, below-market rents (current averages ±$1.77 PSF vs. market rates over $2.50 PSF), and a clear roadmap for value-add execution, Henderson Square is poised to deliver an excellent value-add opportunity with long-term appreciation potential to a new buyer.

FOR SALE DETAILS

PRICE

$52,950,000 USD

PRICE/SF

$222 USD /SF

# OF UNITS

160

PRICE/UNIT

$330,938

CAP RATE

6%

% LEASED

99%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Henderson Square Luxury Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

2000

PARKING SPACES

400

LAND DETAILS

LAND ACRES

12.65 AC

LAND SF

551,034 SF

ZONING

G

APN/PARCEL ID

58-00-09979-007

ASK ABOUT THIS PROPERTY

215-454-2878

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215-454-2878

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