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Multifamily

250 South Franklin

250 S Franklin St, Gettysburg, PA 17325

Listing Price: $1,725,000

Cap Rate
5.62%
Number of Units
22
Price/Unit
$78,409
Price/Gross SF
$123.21
Gross SF
14,000

Investment Overview

Marcus & Millichap is pleased to present for sale 250 South Franklin - A 22-unit apartment community located in the town of Gettysburg, Adams County, Pennsylvania. Adams County is situated along the Pennsylvania/Maryland border in south-central Pennsylvania. The Property is located 5 blocks from the center of Downtown Gettysburg, 34 miles southwest of York, and 40 miles southwest of the state capital of Harrisburg. 250 South Franklin’s 3 buildings are situated on approximately 1.4 acres of land. The unit mix is comprised of 16 one-bedroom/one-bath unit, and 6 two-bedroom/one-bath units. There is off-street parking available in front of each of the buildings. The units all feature private entrances. 250 South Franklin is located in Downtown Gettysburg. The thriving downtown area is home to a variety of restaurants, shops, and historic destinations - All within walking distance of 250 South Franklin Street. 250 South Franklin Street’s in-place rents of $684 provide an investor significant room to increase rents immediately. The property is currently encumbered by a 10 year Arbor loan that commenced in early 2019 and would need to be assumed. The balance is approximately $1,125,000 and the interest rate is 5.1%, with a 30 year amortization.

Investment Highlights

  • 22-Unit Apartment Community Located in the Town of Gettysburg, Adams County, Pennsylvania
  • Part of the "ShoreGate Portfolio" - A 5-Property Value-Add Apartment Portfolio Located in the Central Pennsylvania Towns of McSherrystown, Hanover, and Gettysburg
  • Unit Mix Features 16 One-Bedroom Units, and 6 Two-Bedroom Units
  • Value Add Opportunity - Current Rents are Well Below Market

Exclusively Listed By

  • Clarke Talone

    First Vice President Investments

    (215) 531-7021

    Email Clarke

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

    Philadelphia

  • Andrew Townsend

    First Vice President Investments

    (215) 531-7020

    Email Andrew

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

    Philadelphia

  • Ridge MacLaren

    Senior Vice President Investments

    (215) 531-7019

    Email Ridge

    License(s): PA: RB-063070-L, PA: RM042723B, DE: RB-0002461, NJ: 673619

    Philadelphia

  • Daniel Bernard

    Senior Associate

    (215) 531-7022

    Email Daniel

    License(s): PA: RS331381

    Philadelphia

Listing Price: $1,725,000

Cap Rate
5.62%
Number of Units
22
Price/Unit
$78,409
Price/Gross SF
$123.21
Gross SF
14,000

Investment Highlights

  • 22-Unit Apartment Community Located in the Town of Gettysburg, Adams County, Pennsylvania
  • Part of the "ShoreGate Portfolio" - A 5-Property Value-Add Apartment Portfolio Located in the Central Pennsylvania Towns of McSherrystown, Hanover, and Gettysburg
  • Unit Mix Features 16 One-Bedroom Units, and 6 Two-Bedroom Units
  • Value Add Opportunity - Current Rents are Well Below Market

Investment Overview

Marcus & Millichap is pleased to present for sale 250 South Franklin - A 22-unit apartment community located in the town of Gettysburg, Adams County, Pennsylvania. Adams County is situated along the Pennsylvania/Maryland border in south-central Pennsylvania. The Property is located 5 blocks from the center of Downtown Gettysburg, 34 miles southwest of York, and 40 miles southwest of the state capital of Harrisburg. 250 South Franklin’s 3 buildings are situated on approximately 1.4 acres of land. The unit mix is comprised of 16 one-bedroom/one-bath unit, and 6 two-bedroom/one-bath units. There is off-street parking available in front of each of the buildings. The units all feature private entrances. 250 South Franklin is located in Downtown Gettysburg. The thriving downtown area is home to a variety of restaurants, shops, and historic destinations - All within walking distance of 250 South Franklin Street. 250 South Franklin Street’s in-place rents of $684 provide an investor significant room to increase rents immediately. The property is currently encumbered by a 10 year Arbor loan that commenced in early 2019 and would need to be assumed. The balance is approximately $1,125,000 and the interest rate is 5.1%, with a 30 year amortization.

Exclusively Listed By

  • Clarke Talone

    First Vice President Investments

    (215) 531-7021

    Email Clarke

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

    Philadelphia

  • Andrew Townsend

    First Vice President Investments

    (215) 531-7020

    Email Andrew

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

    Philadelphia

  • Ridge MacLaren

    Senior Vice President Investments

    (215) 531-7019

    Email Ridge

    License(s): PA: RB-063070-L, PA: RM042723B, DE: RB-0002461, NJ: 673619

    Philadelphia

  • Daniel Bernard

    Senior Associate

    (215) 531-7022

    Email Daniel

    License(s): PA: RS331381

    Philadelphia

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