Spring St Multifamily Portfolio
This feature is unavailable at the moment.
We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.
Please check back in a few minutes. We apologize for the inconvenience.
- LoopNet Team
thank you
Your email has been sent!
Spring St Multifamily Portfolio
2 Multifamily Properties Offered at $1,495,000 in Harrisburg, PA
INVESTMENT HIGHLIGHTS
- Harrisburg, PA Mul family Portfolio | 14 Apartments, 1 Garage & 4 Storage Units
- Recent Improvements | $80k Invested in New Roofs, Windows & HVAC
- Access to Downtown Harrisburg & Regional Highway Systems | Access to I-283 & I-83
- Value-Add Opportunity | Rents on Average 11% Below Market Rates
- Strong Demographics & Population Growth | 4.9% Projected Population Increase by 2027, Driving Demand for Housing
EXECUTIVE SUMMARY
SCOPE Commercial Real Estate Services is pleased to exclusively present for sale The Chamber St. Mul family Portfolio, a portfolio of two apartment buildings, on Chambers Street in Pennsylvania's state capital, Harrisburg.
1022 and 1082 Chambers, built in 1944 and 1974, feature 14 apartments, four storage units, and one garage. The units include one-, two-, and three-bedroom con?gurations. An additional parcel o?ers the opportunity for development or parking income. The properties are situated on a total lot size of 0.70 acres, o?ering both privacy and convenience with easy access to Harrisburg’s urban amenities. Ownership recently invested $80,000 in Capex for a new roof, windows, and HVAC units. Currently, rents are achieving a below-market average of $969 across the portfolio o?ering a potential increase of 12.81% to meet market rents.
Located along Chambers Street, the subject property is located just 1.5 miles from I-283 connecting to I-83 the surrounding Harrisburg region. Tenants have access to numerous neighborhood/regional shopping centers as well as dining, entertainment, and all Downtown Harrisburg has to o?er.
1022 and 1082 Chambers, built in 1944 and 1974, feature 14 apartments, four storage units, and one garage. The units include one-, two-, and three-bedroom con?gurations. An additional parcel o?ers the opportunity for development or parking income. The properties are situated on a total lot size of 0.70 acres, o?ering both privacy and convenience with easy access to Harrisburg’s urban amenities. Ownership recently invested $80,000 in Capex for a new roof, windows, and HVAC units. Currently, rents are achieving a below-market average of $969 across the portfolio o?ering a potential increase of 12.81% to meet market rents.
Located along Chambers Street, the subject property is located just 1.5 miles from I-283 connecting to I-83 the surrounding Harrisburg region. Tenants have access to numerous neighborhood/regional shopping centers as well as dining, entertainment, and all Downtown Harrisburg has to o?er.
DATA ROOM Click Here to Access
- Offering Memorandum
TAXES & OPERATING EXPENSES (ACTUAL - 2024) |
ANNUAL |
|---|---|
| Gross Rental Income |
$168,162
|
| Other Income |
-
|
| Vacancy Loss |
-
|
| Effective Gross Income |
$168,162
|
| Taxes |
$13,508
|
| Operating Expenses |
$36,313
|
| Total Expenses |
$49,821
|
| Net Operating Income |
$118,341
|
TAXES & OPERATING EXPENSES (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $168,162 |
| Other Income | |
|---|---|
| Annual | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Effective Gross Income | |
|---|---|
| Annual | $168,162 |
| Taxes | |
|---|---|
| Annual | $13,508 |
| Operating Expenses | |
|---|---|
| Annual | $36,313 |
| Total Expenses | |
|---|---|
| Annual | $49,821 |
| Net Operating Income | |
|---|---|
| Annual | $118,341 |
PROPERTY FACTS
| Price | $1,495,000 | Number of Properties | 2 |
| Price / SF | $138.43 / SF | Individually For Sale | 0 |
| Cap Rate | 7.92% | Total Building Size | 10,800 SF |
| Sale Type | Investment | Total Land Area | 0.34 AC |
| Status | Under Contract |
| Price | $1,495,000 |
| Price / SF | $138.43 / SF |
| Cap Rate | 7.92% |
| Sale Type | Investment |
| Status | Under Contract |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 10,800 SF |
| Total Land Area | 0.34 AC |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
|---|---|---|---|---|
|
1022 Chambers Street
1022 Chambers Street St, Harrisburg, PA 17113 |
Multifamily | 5,600 SF | 1944 | - |
| 1082 Chambers St, Harrisburg, PA 17113 | Multifamily | 5,200 SF | 1944 | - |
1 of 1
1 of 23
VIDEOS
3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
Presented by
Spring St Multifamily Portfolio
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.