Jenkintown, PA

Property Type: Multifamily
Size: 10 Units
Price: $1,350,000
CAP: 3.45%

Highlights:

  • Great Location, Walking Distance to Downtown Jenkintown
  • Value-Add Through Unit Renovations, Rents on Average $500 Below Market
  • Recent Capital Improvements, Roof Resealed and New Hot Water Heater
  • Large One-Bedroom Units, Each Unit is 800 Square Feet

Description:

Marcus & Millichap is pleased to present for sale Greenwal Court - A well-maintained 10-unit, three-story multifamily property located in Jenkintown, Montgomery County, Pennsylvania. Jenkintown is home to more than 4,400 people and is located just minutes from Philadelphia. The apartment complex is comprised of 10 one-bedroom units. The property offers tenants a laundry room and off-street parking. The owner pays for heat and water usage, while the tenants pay for electricity.

The Property is conveniently located within short walking distance of the Jenkintown-Wyncote Train Station, which is a major hub for transit in the region. The station provides service northbound to Quakertown, southbound to Philadelphia and eastbound to Trenton.

The Property represents a rare opportunity to acquire an apartment community in a suburban atmosphere, in the midst of a long-term development plan aimed to strengthen the community and quality of life in Jenkintown. The market average for competing one bedrooms ($1,390) in the sub market is 35.7% greater than the average rents of Greenwal Court. The below market rents allow for investors to come in and make renovations to see a substantial growth in rents.


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