PHILADELPHIA, PA, November 22, 2013 – Rittenhouse Realty Advisors is pleased to announce the sale of the Fifth and Penn Street Apartments, a 2 building apartment complex with 37 units, located in Chester City, Delaware County, PA. Both properties are located minutes from major employment hubs such as Widener University, the Crozer-Chester Medical Center, PPL Park and Harrah’s Philadelphia Casino and Racetrack. Residents also enjoy convenient public transportation via SEPTA bus and train service as well as easily accessible major transportation arteries such as I-95 and I-476.
“This was a great turnkey opportunity,” said Ken Wellar, Managing Partner of Rittenhouse Realty Advisors. The properties were previously owned and operated by a national affordable housing operator who maintained the properties to high standards with modern kitchens and bathrooms.
“Chester is perfectly situated for rental communities because it is so close to major employment centers in Center City, Philadelphia and the Philadelphia Suburbs, as well as Wilmington, Delaware,” noted Corey Lonberger, Managing Partner of Rittenhouse Realty Advisors.