Guardian Apartments | 44 E High St
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Guardian Apartments 44 E High St
24 Unit Apartment Building $2,200,000 ($91,667/Unit) 7.32% Cap Rate Pottstown, PA 19464
Investment Highlights
- Well-Maintained Low-Rise Apartment Building
- Prime location in a high-demand, revitalizing neighborhood
- 24 Units: A strong mix of studio, one-bedroom, and two-bedroom apartments
Executive Summary
Presented by KW Commercial, Suburban West, this 24-unit apartment building, constructed in the 1960s, offers a significant value-add opportunity located in the heart of Pottstown, PA—a town experiencing a wave of revitalization and renewed investment. Pottstown is emerging as a vibrant community, attracting new residents and businesses due to its strategic location, access to key transportation routes, and growing amenities. With a current mix of studio, one-bedroom, and two-bedroom apartments, this property is ideally positioned to benefit from the area's upswing.
As Pottstown continues to evolve with increased local investment and infrastructure improvements, the demand for quality rental housing is on the rise. This property, with its solid construction and desirable unit mix, is poised for rent growth and operational efficiency improvements. The fact that each unit is separately metered for utilities not only simplifies management but also lowers overhead costs, making it easier for owners to maintain healthy cash flow.
For investors, the opportunity to capitalize on both rent increases and long-term property appreciation is immense. With rents currently below market levels, there is substantial room to increase revenue by adjusting rates to match the ongoing revitalization of Pottstown and the increasing desirability of the neighborhood. The building's strategic location ensures high demand for housing, making this a prime investment in a rapidly improving market.
As Pottstown continues to evolve with increased local investment and infrastructure improvements, the demand for quality rental housing is on the rise. This property, with its solid construction and desirable unit mix, is poised for rent growth and operational efficiency improvements. The fact that each unit is separately metered for utilities not only simplifies management but also lowers overhead costs, making it easier for owners to maintain healthy cash flow.
For investors, the opportunity to capitalize on both rent increases and long-term property appreciation is immense. With rents currently below market levels, there is substantial room to increase revenue by adjusting rates to match the ongoing revitalization of Pottstown and the increasing desirability of the neighborhood. The building's strategic location ensures high demand for housing, making this a prime investment in a rapidly improving market.
Financial Summary (Pro forma - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$255,420
|
$15.71
|
| Other Income |
$21,365
|
$1.31
|
| Vacancy Loss |
$7,663
|
$0.47
|
| Effective Gross Income |
$269,122
|
$16.55
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$108,121
|
$6.65
|
| Net Operating Income |
$161,001
|
$9.90
|
Financial Summary (Pro forma - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $255,420 |
| Annual Per SF | $15.71 |
| Other Income | |
|---|---|
| Annual | $21,365 |
| Annual Per SF | $1.31 |
| Vacancy Loss | |
|---|---|
| Annual | $7,663 |
| Annual Per SF | $0.47 |
| Effective Gross Income | |
|---|---|
| Annual | $269,122 |
| Annual Per SF | $16.55 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $108,121 |
| Annual Per SF | $6.65 |
| Net Operating Income | |
|---|---|
| Annual | $161,001 |
| Annual Per SF | $9.90 |
Property Facts
| Price | $2,200,000 | Building Class | C |
| Price Per Unit | $91,667 | Lot Size | 0.29 AC |
| Sale Type | Investment | Building Size | 16,262 SF |
| Cap Rate | 7.32% | Average Occupancy | 100% |
| No. Units | 24 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1900 |
| Property Subtype | Apartment | Parking Ratio | 0.92/1,000 SF |
| Apartment Style | Low Rise | Opportunity Zone |
Yes
|
| Price | $2,200,000 |
| Price Per Unit | $91,667 |
| Sale Type | Investment |
| Cap Rate | 7.32% |
| No. Units | 24 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.29 AC |
| Building Size | 16,262 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1900 |
| Parking Ratio | 0.92/1,000 SF |
| Opportunity Zone |
Yes |
Unit Amenities
- Kitchen
- Hardwood Floors
- Refrigerator
- Range
- Tub/Shower
- Window Coverings
Site Amenities
- 24 Hour Access
- Laundry Facilities
- Walking/Biking Trails
- Public Transportation
- Walk-Up
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 3 | - | 484 |
| 1+1 | 18 | - | 733 |
| 2+1 | 3 | - | 1,032 |
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Walk Score ®
Very Walkable (84)
Bike Score ®
Very Bikeable (72)
PROPERTY TAXES
| Parcel Number | 16-00-13792-007 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $656,600 |
PROPERTY TAXES
Parcel Number
16-00-13792-007
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$656,600
zoning
| Zoning Code | Downtown |
| Downtown |
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Guardian Apartments | 44 E High St
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