464-480 N 2nd St - Apartments FOR SALE


Souderton, PA 18964
$2,250,000 USD
215-531-7021
464-480 N 2nd St, Souderton, PA for Sale
$2,250,000 USD
Apartments - FOR SALE
1/24
null | 6.55% Cap Rate

464-480 N 2nd St
Souderton, PA 18964


HIGHLIGHTS

  • 12-Unit Apartment Complex Located in Souderton, Pennsylvania
  • Strong Unit Mix: All Two-Bedroom Apartments
  • High In-Place Yield, North of a 6.5% Current Cap Rate
  • Majority of the Apartments Have Been Renovated, Only 2 Untouched Units
  • Tenant Paid Heat
  • Ample Off-Street Parking, 2:1 Parking Ratio

OVERVIEW

Marcus & Millichap is pleased to present for sale the Souderton Apartments - A 12-unit apartment complex spread out over three buildings, located in Souderton, PA. The buildings are located adjacent to each other, and each building contains 4 two-bedroom units with a common area laundry in the middle building. The complex has been kept in very good condition due to the owner's keen attention to detail. The landlord is responsible for common area electric, water, sewer and trash removal. The tenant is responsible for heat and electric. There is ample off-street parking located behind each of the three buildings. The Souderton Apartments sits right across from the Willows at Reliance Crossing, which is a new construction affordable housing project. Four new town homes have been built directly next to the parcel. The Property represents a unique opportunity to acquire an apartment community in the highly desirable Montgomery County. The current owner has renovated ten of the twelve units, which allows an incoming investor to capture the remaining value in the property while also achieving strong returns.

FOR SALE DETAILS

PRICE

$2,250,000 USD

PRICE/SF

$266 USD /SF

# OF UNITS

12

PRICE/UNIT

$187,500

CAP RATE

6.55%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Souderton Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1970

PARKING SPACES

19

LAND DETAILS

LAND ACRES

1.14 AC

LAND SF

49,658 SF

ZONING

GA

APN/PARCEL ID

21-00-06804-006

ASK ABOUT THIS PROPERTY

Clarke TaloneMarcus & MillichapMore Info
215-531-7021

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Clarke TaloneMarcus & MillichapMore Info
215-531-7021

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