Description
We are pleased to present the unique opportunity to acquire Green Lane Apartments, a fully occupied 8-unit apartment building in the desirable Montgomery County boro of Green Lane, PA. Located in the heart of downtown Green Lane boro, residents at the community are just steps away from parks, dining, and shopping.
The property features 8 apartments all of which are (8) large 2 Bed-1 Bath units. The majority of units have been renovated in the last year; however, with additional minor cosmetic updates and simple lease renewal management, a new owner has the ability to increase rents by 18%+.
Current ownership completed an extensive renovation program on the community in the last 14 months which included full renovation of 4 units, moderate renovation of 2 units, roof and window replacement, sewer upgrades, extensive concrete and front entry rebuilds, new locks/fire/smoke system, new parking lot, hot water heater replacements, etc. Typical renovated apartment unit features include in-unit washer/dryers, stainless steel appliances, wood cabinets, granite countertops, updated bathrooms, and LVT plank flooring throughout. Additionally, the open and expansive basement provides for large storage locker area which is not currently being monetized by ownership and provide an additional tenant amenity and potential revenue stream. Owner(s) is a PA real estate licensee
Location
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Courtesy of: KW Commercial Listing information provided courtesy of the Bright MLS. IDX information is provided exclusively for consumers' personal, non-commercial use, and it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable, but is not guaranteed accurate by the MLS. Updated: 5th July, 2022 11:34 PM (UTC)
