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Multifamily

Souderton Apartments

464 N 2nd St, Souderton, PA 18964

Listing Price: $2,250,000

Cap Rate
6.55%
Number of Units
12
GRM
8.93
Price/Unit
$187,500
Price/Gross SF
$265.96
Gross SF
8,460

Investment 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, Montgomery County, Pennsylvania. 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 directly 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 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.

Investment Highlights

  • 12-Unit Apartment Complex Located in Souderton, Montgomery County, 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

Exclusively Listed By

  • Daniel Bernard

    First Vice President Investments

    (215) 531-7022

    Email Daniel

    License(s): PA: RS331381

    Philadelphia

  • Andrew Townsend

    Senior Vice President Investments

    (215) 531-7020

    Email Andrew

    License(s): PA: RS304074, DE: RS-0019885, NJ: 680787

    Philadelphia

  • Clarke Talone

    First Vice President Investments

    (215) 531-7021

    Email Clarke

    License(s): PA: RS299113, DE: RS-0019808, NJ: 0787408

    Philadelphia

Financing By

Multifamily

Souderton Apartments

Listing Price: $2,250,000

Cap Rate
6.55%
Number of Units
12
GRM
8.93
Price/Unit
$187,500
Price/Gross SF
$265.96
Gross SF
8,460

Investment Highlights

  • 12-Unit Apartment Complex Located in Souderton, Montgomery County, 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

Investment 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, Montgomery County, Pennsylvania. 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 directly 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 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.

Exclusively Listed By

  • Daniel Bernard

    First Vice President Investments

    (215) 531-7022

    Email Daniel

    License(s): PA: RS331381

    Philadelphia

  • Andrew Townsend

    Senior Vice President Investments

    (215) 531-7020

    Email Andrew

    License(s): PA: RS304074, DE: RS-0019885, NJ: 680787

    Philadelphia

  • Clarke Talone

    First Vice President Investments

    (215) 531-7021

    Email Clarke

    License(s): PA: RS299113, DE: RS-0019808, NJ: 0787408

    Philadelphia

Financing By

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