700 Rupp Ave - Storefront Retail/Residential FOR SALE


Mechanicsburg, PA 17055- West Shore/Mechanicsburg
$1,800,000 USD
646-712-7360
700 Rupp Ave, Mechanicsburg, PA for Sale
$1,800,000 USD
Storefront Retail/Residential - FOR SALE
1/5
null | 7% Cap Rate

700 Rupp Ave
Mechanicsburg, PA 17055
West Shore/Mechanicsburg


HIGHLIGHTS

  • Desirable Unit Mix: (10) Two-Bedroom and (2) One-Bedroom Units
  • Value Add Opportunity: Increase Rents ±10% “As Is”, or Renovate Existing Units and Increase Rents ±25%
  • Excellent Location: Access to Routes 11 and 15 and Interstates 81 and 83; Public Transit Options via Capital Area Transit (CAT) and Amtrak
  • Proximity to Major Employers: Penn State Health, UPMC Pinnacle, Highmark, Giant, Naval Support Activity Base, Penn State Harrisburg, & More
  • "Commuter Town" for Harrisburg: +15 Minute Drive to Downtown Harrisburg; Employment Hub for Government, Healthcare and Education
  • Access to Major Retail Corridors: Routes 11 & 15 Corridors for Shopping, Dining, and Entertainment; Proximity to Capital City Mall & More

OVERVIEW

Rupp Avenue Apartments is a 12-unit residential property in the highly desirable borough of Mechanicsburg, Pennsylvania. Built in 1978, the 12-unit community consists of (10) two-bedroom and (2) one-bedroom units. Four of the 12 units have been renovated and leased at a higher monthly rental rate of $1,350. A new owner can complete similar upgrades to kitchens and baths in the remaining 8 units and increase those rental rates by $300 to $400. Residents are responsible for electricity which covers heat/air conditioning, cooking, and hot water, while the owner is responsible for cold water, sewer, and trash. Mechanicsburg is a thriving borough in Cumberland County. Rupp Street Apartments enjoys the benefits of being located just outside of Harrisburg. The proximity to the state capital (Harrisburg), creates a strong job market with diverse employment opportunities in the healthcare, education, technology, government, and retail sectors. Though the area has seen significant growth, Mechanicsburg is still known for its suburban charm and appeal to young professionals and families due to the excellent schools and low crime rates. Rupp Street Apartments offers an outstanding opportunity to acquire 12 apartment units with below-market rents in one of the fastest-growing regions in Central Pennsylvania.

FOR SALE DETAILS

PRICE

$1,800,000 USD

PRICE/SF

$182 USD /SF

CAP RATE

7%

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

12 Apartment Units

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1978

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.43 AC

LAND SF

62,291 SF

ZONING

-

APN/PARCEL ID

13-24-0795-150C

ASK ABOUT THIS PROPERTY

Luke DeLucaGREAMore Info
646-712-7360

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Luke DeLucaGREAMore Info
646-712-7360

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