Multifamily

603-605 N 2nd St.

603 -605 N 2nd St, Harrisburg, PA 17101

Listing Price: $1,250,000

Cap Rate
6.54%
Number of Units
43
GRM
5.09
Occupancy
55.0%
Price/Unit
$29,070
Price/Gross SF
$81.17
Gross SF
15,400

Investment Overview

Marcus & Millichap is proud to present 603-605 N Second St, Harrisburg, PA 17101.

The Subject Property is a three (3) story 15,204 SF student housing property with 43 rooms, 2 kitchens, 11 bathrooms, coin operated laundry, and an outdoor courtyard. The property was originally built as a convent for the Sisters, Servants of the Immaculate Heart of Mary which staffed the Catholic schools of Harrisburg. The property is now student housing for the local campus of the Global Celebration School of Supernatural Ministry, which is a Faith based school to educate and prepare students for global travels of short and long term Missions.

The property sits directly in the heart of downtown Harrisburg and is only a five minute walk from the State Capital Complex, State Museum, Harrisburg University, Whitaker Center, Temple University HBG Campus, Amtrak, and the YMCA. Being the state's capital creates a base level of white-collar jobs that assists in insulating Harrisburg during sharp economic downturns.

Young professionals and students both benefit from the close proximity to employers and universities, but also get to enjoy the nightlife that downtown Harrisburg has to offer. Located on 2nd street is Restaurant Row, which is home to many world class restaurants, boutique coffee shops, trendy Brew Pubs, and several events that bring the City together.

Residents can enjoy running and cycling on the HBG Greenbelt which offers breathtaking views of nature, history, & architecture as it sways along the banks of Susquehanna River. The Riverfront is home to many festivals including the Harrisburg Arts Fest, Harrisburg Music Fest, and the Kipona Festival. The Riverfront Park also provides direct access to City Island via the Walnut Street walking bridge. Harrisburgs City Island is home to FBN Field, home of the Harrisburg Senators (Washington Nationals Affiliate- baseball) and Penn FC (soccer).

Investment Highlights

  • Additional Christian Summer Camp Income ($10,000)
  • Close Proximity to State Capital Complex & State Museum
  • Walking Distance To Top Employers & Universities
  • Located on Harrisburg's Restaurant Row
  • Close to Local Attractions, Events, & Public Transportation
  • Several Amenities Within Walking Distance

Exclusively Listed By

Financing By

  • Stephen Arrivello

    Director

    Direct:

    Email Stephen

    Philadelphia, PA

Listing Price: $1,250,000

Cap Rate
6.54%
Number of Units
43
GRM
5.09
Occupancy
55.0%
Price/Unit
$29,070
Price/Gross SF
$81.17
Gross SF
15,400

Investment Highlights

  • Additional Christian Summer Camp Income ($10,000)
  • Close Proximity to State Capital Complex & State Museum
  • Walking Distance To Top Employers & Universities
  • Located on Harrisburg's Restaurant Row
  • Close to Local Attractions, Events, & Public Transportation
  • Several Amenities Within Walking Distance

Investment Overview

Marcus & Millichap is proud to present 603-605 N Second St, Harrisburg, PA 17101.

The Subject Property is a three (3) story 15,204 SF student housing property with 43 rooms, 2 kitchens, 11 bathrooms, coin operated laundry, and an outdoor courtyard. The property was originally built as a convent for the Sisters, Servants of the Immaculate Heart of Mary which staffed the Catholic schools of Harrisburg. The property is now student housing for the local campus of the Global Celebration School of Supernatural Ministry, which is a Faith based school to educate and prepare students for global travels of short and long term Missions.

The property sits directly in the heart of downtown Harrisburg and is only a five minute walk from the State Capital Complex, State Museum, Harrisburg University, Whitaker Center, Temple University HBG Campus, Amtrak, and the YMCA. Being the state's capital creates a base level of white-collar jobs that assists in insulating Harrisburg during sharp economic downturns.

Young professionals and students both benefit from the close proximity to employers and universities, but also get to enjoy the nightlife that downtown Harrisburg has to offer. Located on 2nd street is Restaurant Row, which is home to many world class restaurants, boutique coffee shops, trendy Brew Pubs, and several events that bring the City together.

Residents can enjoy running and cycling on the HBG Greenbelt which offers breathtaking views of nature, history, & architecture as it sways along the banks of Susquehanna River. The Riverfront is home to many festivals including the Harrisburg Arts Fest, Harrisburg Music Fest, and the Kipona Festival. The Riverfront Park also provides direct access to City Island via the Walnut Street walking bridge. Harrisburgs City Island is home to FBN Field, home of the Harrisburg Senators (Washington Nationals Affiliate- baseball) and Penn FC (soccer).

Exclusively Listed By

Financing By

  • Stephen Arrivello

    Director

    Direct:

    Email Stephen

    Philadelphia, PA

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