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Multifamily

Market View II

319 Market St, Harrisburg, PA 17101

Listing Price: $2,000,000

Cap Rate
4.03%
Number of Units
16
Price/Unit
$125,000
Price/Gross SF
$167.22
Gross SF
11,960

Investment Overview

Marcus & Millichap is proud to present 319 Market St, Harrisburg, PA. The Subject Property is known as Market View II Apartments. The building is a sixteen (16) unit, four (4) story, 11,960 SF apartment building is ideally located in the Center of Downtown Harrisburg. The units mix consists of Four (4) studio’s, Nine (9) one bedroom, One (1) one bedroom deluxe, One (1) two bedroom, and One (1) three-bedroom Luxury Downtown Apartments. The Building dates back to 1900 and is on the National Registry of Historic Places by the United States Department of the Interior. The property was fully renovated in 2013 - From an office building to an apartment building w/ high-end luxury fixtures. (New Roof, HVAC, Major Mechanicals, Electrical Systems, and Full Interior Fit-outs) The location is ideal for professionals with excellent walk-ability to major employers, Harrisburg Amtrak Station, restaurants, and nightlife. The subject properties current rent income are well below market giving new ownership a substantial upside when units leases expire. The stability in Harrisburg is anchored by the presence of state and federal government, higher education, and medical facilities. Within walking distance is the Pennsylvania Capital Complex, UMPC Harrisburg Hospital, and many Higher Education Campuses which include Temple University, Messiah College, Harrisburg Area Community College, and Harrisburg University which is directly across the street. Future development in the area includes a new Federal Courthouse, re-purposing of under-utilized state land, and a 12-story tower for Harrisburg University’s primary campus - (Located one block away from the subject property. This state-of-the-art facility for Harrisburg University will increase the school’s student body by 1,000 students, expand the degree offerings, this project does not include any residential or student housing. Harrisburg University has had great success in attracting students from across the globe with their excellence in STEM related curriculum and maintaining the status of being one of the most affordable private

Investment Highlights

  • Historically High Occupancy w/ Below Market Rents
  • Significant Value-Add Opportunity
  • Close to all Major Amenities
  • Ideally Located in Downtown Harrisburg's CBD
  • Easy Access to Major Highways, Restaurants, and Nightlife

Exclusively Listed By

Listing Price: $2,000,000

Cap Rate
4.03%
Number of Units
16
Price/Unit
$125,000
Price/Gross SF
$167.22
Gross SF
11,960

Investment Highlights

  • Historically High Occupancy w/ Below Market Rents
  • Significant Value-Add Opportunity
  • Close to all Major Amenities
  • Ideally Located in Downtown Harrisburg's CBD
  • Easy Access to Major Highways, Restaurants, and Nightlife

Investment Overview

Marcus & Millichap is proud to present 319 Market St, Harrisburg, PA. The Subject Property is known as Market View II Apartments. The building is a sixteen (16) unit, four (4) story, 11,960 SF apartment building is ideally located in the Center of Downtown Harrisburg. The units mix consists of Four (4) studio’s, Nine (9) one bedroom, One (1) one bedroom deluxe, One (1) two bedroom, and One (1) three-bedroom Luxury Downtown Apartments. The Building dates back to 1900 and is on the National Registry of Historic Places by the United States Department of the Interior. The property was fully renovated in 2013 - From an office building to an apartment building w/ high-end luxury fixtures. (New Roof, HVAC, Major Mechanicals, Electrical Systems, and Full Interior Fit-outs) The location is ideal for professionals with excellent walk-ability to major employers, Harrisburg Amtrak Station, restaurants, and nightlife. The subject properties current rent income are well below market giving new ownership a substantial upside when units leases expire. The stability in Harrisburg is anchored by the presence of state and federal government, higher education, and medical facilities. Within walking distance is the Pennsylvania Capital Complex, UMPC Harrisburg Hospital, and many Higher Education Campuses which include Temple University, Messiah College, Harrisburg Area Community College, and Harrisburg University which is directly across the street. Future development in the area includes a new Federal Courthouse, re-purposing of under-utilized state land, and a 12-story tower for Harrisburg University’s primary campus - (Located one block away from the subject property. This state-of-the-art facility for Harrisburg University will increase the school’s student body by 1,000 students, expand the degree offerings, this project does not include any residential or student housing. Harrisburg University has had great success in attracting students from across the globe with their excellence in STEM related curriculum and maintaining the status of being one of the most affordable private

Exclusively Listed By

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