30 Unit Best Homes Portfolio

1133 Madison St Chester, PA 19013

FOR SALE
Property Type:
MultiFamily Apartments
Amount:
$2,695,000
Last Verified:
Dec 10, 2020

Highlights

  • 30 unit portfolio meticulously maintained and managed
  • Under market rents for significant Value Add
  • Excellent vacancy rate: 2020 - below 0.5% / 2019 - below 2% / 2018 - below 2%
  • Award-winning management company available to stay in place
  • Unique Investment Opportunity in highly sought after Philly/Delco market/submarket
  • Attractive Financing Available

Description

KW Commercial is pleased to exclusively market for sale this 30 unit fully-occupied rental portfolio located in Chester, Pennsylvania. This portfolio consists of one (1) triplex, three (3) duplexes and 21 fully-occupied rental properties in immaculate condition, for a total of 30 units. They are all spread out within close proximity in Chester and neighboring communities. These units represent the nicest and most sought after units in the market. They remain fully occupied at all times with a long waiting list of tenants ready for the next turnover. Meticulously maintained and managed by an award-winning operator who would stay in place for the future owner. Being offered at a significant discount by being sold as a package. This opportunity offers double-digit cash return on a turnkey fully-stabilized asset with value add potential.

Most units are located within close proximity and most of them are located within "The Golden Triangle" section of Chester. They have been strategically purchased and added to the portfolio over the past 10 years. Each unit is a full gut rehab that has been renovated and updated beyond the market expectations, and each tenant has a great sense of pride of ownership. The design and finishes are top-notch for the industry and for the market. Each unit also has washer/dryers which is a unique amenity in the Chester Market. The outlying four (4) units are located in within a few miles of the Chester properties. They are located in nearby Collingdale, Boothwyn and Marcus Hook.

The current owner and operator would stay on to continue to run the operation at a very high level. These units are so coveted and in high demand, that there is a long waiting list for every lease turnover, and they have never been advertised for lease on any listing platform. The portfolio consistently stays fully occupied and shows actual vacancy percentages below 1% on an annual basis.

This is an opportunity to purchase a high performing, high yield cash flowing, extremely well maintained and managed portfolio of investment properties with a double-digit leveraged return and tremendous upside.

The unit mix breakdown consists of (1) 1 bedroom / 1 bath units, (12) 2 bedroom / 1 bath units, (11) 3 bedroom / 1 bath units, (4) 4 bedroom / 1 bath units, and (2) 5 bedroom / 2 bath units. Of the 30 units, 11 of them currently have Section 8 vouchers in place. Attractive Financing Available Upon Request.

The Portfolio is located just southeast of Philadelphia in the city of Chester, PA. With a population of 33,000+, Chester is the largest city in the highly sought after Delaware County. Incorporated in 1682, it is also the oldest city in Pennsylvania and is located on the western bank of the Delaware River in between Philadelphia and Wilmington, DE. There is direct and easy access off of I-95 north and south.

Building Size: 33921sq ft
Lot Size: 0 acres

Map of 1133 Madison St, Chester, PA, 19013

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What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

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