Mixed-Use
Hill Cafe Apartments
1255 Market St, Harrisburg, PA 17103
Listing Price: $3,450,000
Investment Overview
Marcus & Millichap is pleased to present to qualified buyers the opportunity to acquire Hill Cafe Apartments + Retail located at 1249-1255 Market Street in Harrisburg, PA. The Subject Property offering 20,500 SF of leasable space within 3 buildings is made up of 27 residential units and 1 commercial unit. The unit mix includes: (13) one-bed, (8) two-bed, and (6) 3-bed units. Current rents of the subject property are well below market - allowing new owners to increase rents within a short timeframe. Additionally, the buildings are strategically located with easy access to downtown Harrisburg, retail amenities, and major highways. Apartments rents in the Harrisburg market have been rising at an annual 2.8% rate and has posted an average annual gain of 5.1% over the last 3 years, offering ownership a value-add opportunity with increased rents. The city was also recently ranked one the best places to live in Pennsylvania and ranked no. 61 best place to live in the United States, beating out every other PA city including Philadelphia, Pittsburgh, and Lancaster.
Hill Cafe Apartments
Investment Highlights
- Subject property has 13 one (1) bedroom units, 8 two (2) bedroom units, and 6 (3) bedroom units.
- Located on a 0.23 Acre lot in the heart of Dauphin County, ranked one of the best places to live in Pennsylvania.
- Property was recently renovated in 2023.
- Subject property is located in an Opportunity Zone.
- Located within close driving distance to a number of major shopping centers, amenities, parks, and local restaurants and bars.
- Conveniently located in Allison Hill neighborhood making a commute to downtown Harrisburg, schools, and universities a breeze.
- Harrisburg's GDP is forecasted to grow by 1.3% in 2023 and 1.7% annually between 2022 and 2026. Over the same five-year period, employment is expected to grow by 1.4% annually.
Listing Price: $3,450,000
Investment Highlights
- Subject property has 13 one (1) bedroom units, 8 two (2) bedroom units, and 6 (3) bedroom units.
- Located on a 0.23 Acre lot in the heart of Dauphin County, ranked one of the best places to live in Pennsylvania.
- Property was recently renovated in 2023.
- Subject property is located in an Opportunity Zone.
- Located within close driving distance to a number of major shopping centers, amenities, parks, and local restaurants and bars.
- Conveniently located in Allison Hill neighborhood making a commute to downtown Harrisburg, schools, and universities a breeze.
- Harrisburg's GDP is forecasted to grow by 1.3% in 2023 and 1.7% annually between 2022 and 2026. Over the same five-year period, employment is expected to grow by 1.4% annually.
Investment Overview
Marcus & Millichap is pleased to present to qualified buyers the opportunity to acquire Hill Cafe Apartments + Retail located at 1249-1255 Market Street in Harrisburg, PA. The Subject Property offering 20,500 SF of leasable space within 3 buildings is made up of 27 residential units and 1 commercial unit. The unit mix includes: (13) one-bed, (8) two-bed, and (6) 3-bed units. Current rents of the subject property are well below market - allowing new owners to increase rents within a short timeframe. Additionally, the buildings are strategically located with easy access to downtown Harrisburg, retail amenities, and major highways. Apartments rents in the Harrisburg market have been rising at an annual 2.8% rate and has posted an average annual gain of 5.1% over the last 3 years, offering ownership a value-add opportunity with increased rents. The city was also recently ranked one the best places to live in Pennsylvania and ranked no. 61 best place to live in the United States, beating out every other PA city including Philadelphia, Pittsburgh, and Lancaster.
