The Townhomes at Bigelow | 1300 Bigelow Ct
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The Townhomes at Bigelow 1300 Bigelow Ct
32 Unit Apartment Building $4,150,000 ($129,688/Unit) 6.28% Cap Rate Harrisburg, PA 17103
Investment Highlights
- The location offers various amenities such as the Downey School, the Capital City Mall, the Susquehanna Art Museum, the Reservoir Park, restaurants, a
- Directly Connected to Interstate 81 (I-81) less than 2 miles away, the U.S. Route 22 (US-22) approximately 2.5 miles away, and the Pennsylvania Route
- The combination of dining, retail, parks, transportation, and community services make Bigelow an attractive and amenity-rich neighborhood for resident
- Easy Access to major cities and destinations such as Hershey (12 miles east), York (40 miles southeast), and Philadelphia (105 miles east).
- This submarket has a diverse mix of residential, commercial, and government uses, attracting a wide range of tenants and residents.
Executive Summary
Scope Commercial Real Estate Services is proud to exclusively present The Townhomes at Bigelow featuring 32 attractive two-bedroom, two-bathroom townhomes. Located at 1300 Bigelow Drive adjacent to the Central Business District of downtown Harrisburg, this cash-flowing community boasts a current cap rate of 6.28%, with the potential to reach an impressive 10.09% through strategic rent increases. Each townhome is +/- 1,080 square feet with some featuring garages or carports. The Townhomes at Bigelow have undergone significant capital expenditures, ensuring a comfortable and modern living experience for your tenants. Additionally, the HOA takes care of landscaping and snow removal, providing an added value to this exceptional deal.
The Townhomes at Bigelow offer an enticing opportunity for investors looking to capitalize on the growing Harrisburgmarket. As the capital city of Pennsylvania, Harrisburg is experiencing a 4.9% population growth projection between 2022 and 2027, indicating a burgeoning demand for housing. The city’s central location within the Golden Triangle of Pennsylvania makes it an ideal place to live, work, and play, with its rich history, vibrant arts scene, and diverse cultural attractions. With an average household income of $76,189 in the Harrisburg-Carlisle metro area, the region boasts a strong economic foundation that supports the demand for quality rental housing.
Moreover, Harrisburg’s real estate market has demonstrated resilience and potential for growth. The median home value in Harrisburg is $230,686, and the cost of living is 91, which is 0.9x lower than the national average, making the city an affordable and attractive option for residents.
The Townhomes at Bigelow offer an enticing opportunity for investors looking to capitalize on the growing Harrisburgmarket. As the capital city of Pennsylvania, Harrisburg is experiencing a 4.9% population growth projection between 2022 and 2027, indicating a burgeoning demand for housing. The city’s central location within the Golden Triangle of Pennsylvania makes it an ideal place to live, work, and play, with its rich history, vibrant arts scene, and diverse cultural attractions. With an average household income of $76,189 in the Harrisburg-Carlisle metro area, the region boasts a strong economic foundation that supports the demand for quality rental housing.
Moreover, Harrisburg’s real estate market has demonstrated resilience and potential for growth. The median home value in Harrisburg is $230,686, and the cost of living is 91, which is 0.9x lower than the national average, making the city an affordable and attractive option for residents.
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
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| Gross Rental Income |
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| Other Income |
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| Vacancy Loss |
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| Effective Gross Income |
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| Net Operating Income |
$99,999
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$9.99
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Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts Under Contract
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 32 | $1,073 | 1,080 |
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The Townhomes at Bigelow | 1300 Bigelow Ct
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