Hatboro, PA

Property Type: Multifamily
Size: 10 Units
Price: $1,750,000
CAP: 3.86%

Highlights:

  • Large Value-Add: Rents Average ~$700 Below-Market
  • Strong Unit Mix: 100% Two-Bed, One-Bath Townhouse-Style Apartments
  • Desirable Location in the Heart of Hatboro Borough
  • Private Entrances with Full Basements and Backyard Space
  • Tenant-Paid Heat, Electric, Water and Sewer

Description:

Marcus & Millichap is pleased to present for sale 20 East Monument Avenue - A well-maintained 10-unit, two-building multifamily property located in Hatboro, Montgomery County, Pennsylvania. Hatboro is home to more than 8,200 people. The apartment complex is comprised of two buildings, each containing five 2-bedroom townhouse-style apartments. Each unit features a private entrance and full basement with washer/dryer hookups. There is a large off-street parking lot. The owner pays for trash removal, while the tenants pay for electricity, heat, water and sewer.

The Property is conveniently located within short walking distance of the Hatboro Train Station and is right off York Road, which allows easy access to many nearby shops, restaurants and highways. The train station provides service southbound to Philadelphia. The Pennsylvania Turnpike is in proximity to the Property and is the major thoroughfare of Pennsylvania.

The Property represents a rare opportunity to acquire an apartment community in a quiet, suburban atmosphere located in desirable Montgomery County. The market average for competing two-bedrooms ($1,863) in the sub-market is 39.2% greater than the average rents of 20 East Monument Avenue. The below-market rents allow for investors to come in and make renovations to see a substantial growth in rents.


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