Coatesville, PA
Property Type: Mixed-UseSize: 15 Units
Price: $1,975,000
CAP: 8.16%
Highlights:
• Two Newly Renovated Properties Located Within 0.7 Miles of Each Other
• Turn-Key Assets: Both Buildings Recently Gut Renovated
• Luxury Interior Finishes: Hardwood Floors & Stainless Steel Appliances
• Strong Return: North of 8% Current Cap Rate
Description:
Marcus & Millichap is pleased to present for sale The Coatesville Portfolio - Two properties located in the city of Coatesville, Chester County, PA. The portfolio totals 14 apartments and one (1) ground-floor retail space. The apartment unit mix is comprised of 5 one-bedroom units, and 9 two-bedroom units.
Both properties are in great condition, as the owner has gut renovated both buildings within the last five years. Units feature hardwood flooring, stainless steel appliances, and central heating and air conditioning. The owner is responsible for common area electric and trash removal. The tenants are billed monthly for their electric and water usage.
The city of Coatesville is home to more than 13,000 people, and is located in very desirable Chester County. The portfolio is proximate to the center of town, which allows for easy access to restaurants, shops, and the nearby Amtrak station. The Amtrak station provides eastbound access to Center City, Philadelphia and westbound access to Harrisburg.
The Property represents a rare opportunity to acquire an apartment portfolio in highly desirable Chester County. The up-to-date capital improvements and recently renovated units allow an incoming investor to realize positive cash flow immediately.
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