Investment Overview

Marcus & Millichap is pleased to present for sale the Parktowne Apartments – A 21-unit community located in Harrisburg, Pennsylvania. The property consists of two brick buildings with pitched roofs on an attractive site. Parktowne is located conveniently near I-81 and I-83. Numerous shopping and dining opportunities are just a short drive away. The list price of $2,625,000 is well below replacement cost. The unit mix consists of five one-bedroom units and 16 two-bedroom units. Each building has laundry facilities and off-street parking. An investor has the ability to increase rents with unit upgrades. The buildings will be delivered free and clear of debt, allowing an investor to use new debt. Parktowne represents a unique opportunity to purchase a stable apartment community with upside at a great basis. Harrisburg apartment fundamentals are strong, as evidenced by the rents achieved in the comparable properties.