Highland Ct
- Central air conditioning
- Market rent estimate: $1,300/month, well below new units coming online
- Newer metal roofs
- Full, unfinished basements (dry locked) with washer/dryer hookups
- Growing demographic area
- High occupancy rates
- Off-street parking
- Tenants pay directly for electricity and reimbursement for water/sewer
- 7.1% Proforma Cap Rate
Property Description
Rare chance to acquire a single-owner multifamily portfolio compromising 133 townhouse-style apartments across seven well-maintained properties. Each unit contains +/-960 square feet with two (2) bedrooms and one (1) full bathroom, offering an efficient layout for tenants. Constructed between the 1960s and 1980s, the all-brick buildings are equipped with durable metal roofs (installed approximately 10 years ago) lessening landlord responsibilities. The portfolio has consistently maintained high occupancy rates and has been independently managed with care. Strategically located in the growing Harrisburg-Carlisle MSA, the properties benefit from proximity to major interstate systems and regional employment hubs, supporting steady rental demand and long-term rent growth potential. Sales Conditions: Properties are being offered as a portfolio. Current property manager to remain employed for next several years (to be negotiated). Interior inspection of at least one (1) unit within each complex can be accommodated as a contingency within a formal agreement of sale.
Key Property Information
| Listing Status: | Unavailable |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $21,000,000 |
| No. of Units: | 133 |
| Year Built: | 1776 |
| Lot Size: | 10.53 Acres |
| Opportunity Zone: | No |
| Price per unit: | $157,895 |
| Property Website | Click Here |
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