121 South Quarry Street
- Strong In-Place Cash Flow with Value-Add Upside: Current NOI of $42,073 with a projected Pro Forma NOI of $56,473, offering a clear path to increased returns through mark-to-market rent adjustments.
- Legacy Tenants: Fully stabilized with many long-term tenants in place.
- Below-Market Rents with Mark-to-Market Opportunity: Residential rents averaging $617/month currently, with pro forma projections of $710/month.
- Major Capex Completed: Both front roofs replaced and the parking lot resealed in 2025. Full Renovation of one apartment as well.
Property Description
SVN Three Rivers Commercial Advisors is pleased to present 121-123 South Quarry St for sale. This approximately 10,000 SF property sits on a 0.28-acre parcel and features a unit mix of (8) two-bedrooms and (4) one-bedroom apartments. The asset is fully stabilized with long-term tenants and strong in-place cash flow, generating a current NOI of $42,073 with a projected Pro Forma NOI of $56,473. Current average rents of $617 per month are below market, providing a clear value-add opportunity through mark-to-market rent increases to approximately $710 per month. Recent capital improvements include the replacement of both front roofs and parking lot resealing in 2025, as well as a full renovation of one apartment unit, minimizing near-term capital expenditure needs and offering investors a stable, income-producing asset with upside potential.
Key Property Information
| Listing Status: | Unavailable |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $600,000 |
| No. of Units: | 12 |
| Year Built: | 1978 |
| Lot Size: | 0.28 Acres |
| Opportunity Zone: | No |
| Price per unit: | $50,000 |
| Property Website | Click Here |
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