Gravel Pike Apartments
109 Gravel Pike; Green Lane, PA 18054
- Price$ 500,000
- Property TypeMulti Unit Housing
- NeighborhoodMontgomery County
- Number of Units9
- Lot Size1.56 acres
- Price/Unit$ 55,556
- Year Built1950
- Excellent Unit Mix: (3) One-Bedroom Units and (6) Two-Bedroom Units
- Location and Visibility: Situated on Main Street in a High-Traffic Location
- 100% Occupied
- Every Unit has a Private Entrance
- Windows Replaced in 2009
On behalf of Ownership, Rittenhouse Realty Advisors extends to qualified investors the opportunity to acquire the fee simple interest in Gravel Pike Apartments located at 109 & 113 Main Street, in Green Lane, Pennsylvania. The property consists of five adjacent parcels with a total of nine apartment units. Green Lane is located in Montgomery County approximately 8 minutes northwest of Harleysville, Pennsylvania (Interstate-476 Exit #31).
The first property at 113 Main Street, built in the late 1800’s, is a three-story building with stucco exterior and pitched roof. It consists of (1) two-bedroom bi-level unit and (1) one-bedroom apartment. Both units have private entrances. The tenants are responsible for heat (sub-metered), hot water (individual hot water tanks) and electric.
The adjacent property at 109 Main Street, built in 1950, is a two-story building with stucco and siding exterior and a pitched roof. It boasts an excellent unit mix of (2) one-bedroom units and (5) two-bedroom units. All seven units at 109 Main Street have private entrances. The tenants are responsible for heat (sub-metered), hot water (individual hot water tanks) and electric. The property features a common area washer/dryer which is utilized by both properties.
The current Owner purchased the apartments in the late 1990s, and replaced the windows in 2009. The owner has always had historically high occupancy. The property is currently fully occupied with average in place rents of $808.
109 & 113 Main Street Main Street present an outstanding opportunity to acquire 9 units in highly sought after Montgomery County.
Tel: (215) 454-2852 EXT 1001
Cell: (267) 760-3726
License: PA RS279134 / DE RS0016407
Tel: (215) 454-2852 EXT 1014
Cell: (646) 712-7360
License: PA RSR001990
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