Pennsville, NJ
Property Type: MultifamilySize: 72 Units
Price: See Broker for Details
CAP: See Broker for Details
Highlights:
- 72 Units Located in Pennsville, Salem County, New Jersey
- Value Add Opportunity: Rents are 17-20% Below Submarket Averages
- Large Units: One-Beds Average 720 SF, Two-Beds Average 930 SF
- Each Unit Contains a Spacious Balcony or Walk-Out Patio
- Centrally Located: Property is a 20-Minute Drive to Wilmington, DE and 45-Minute Drive to Philadelphia
Description:
Marcus & Millichap is pleased to present for sale Sunrise Gardens - A 72-unit apartment complex located in Pennsville, Salem County, New Jersey. The property features 48 one-bedroom unit and 24 two-bedroom units.
Rents at Sunrise Gardens are approximately 17-20% below submarket averages, giving investors the opportunity to raise rents so they are more in-line with market.
The property is centrally located, within a 20-minute drive to Wilmington, DE and a 45-minute drive to Philadelphia.
The units are on the larger side, with one-beds averaging 720 SF, and two-beds averaging 930 SF. Each unit features a spacious balcony or walk-out patio.
Sunrise Gardens is under contract. Please reach out to listing agent Andrew Townsend for additional details about this offering at 215-531-7020.
