139 S. State Road (Delco)

139 S. State Road; Upper Darby, PA 19092

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Property Details

  • Price$ 1,000,000
  • Property TypeMulti Unit Housing
  • NeighborhoodDelaware County
  • Number of Units12
  • Lot Size0.27 acres
  • Price/Unit$ 83,333
  • Price/Bedroom-
  • Year Built-

Investment Highlights

  • Extraordinary Location: Situated in Highly Sought-After Upper Darby, Delaware County, Pennsylvania
  • Rental Upside: Opportunity to Increase In-Place Rents ±10%
  • Exceptional Unit Mix: 50% of Units have Two-Bedrooms
  • Excellent Construction: Block Construction with Concrete-Plank Floors

Investment Overview
On behalf of ownership, Rittenhouse Realty Advisors extends to qualified investors the opportunity to acquire the fee simple interest in the property situated at 139 South State Road in Upper Darby, Delaware County, Pennsylvania. This 12 unit — (6) one-bedroom and (6) two-bedroom — multifamily property is currently 100% occupied with an average in-place rent of $789 per month for one-bedrooms and $870 per month for two-bedrooms with tenants paying electric and heat. When compared to similar properties in the immediate area, the rents could be increased approximately 10% with little to no work required to obtain these increases.

The property is situated on the main artery in Upper Darby with easy access to numerous transit routes that service tenants to SEPTA’s 69th Street Transportation Station — the gateway to the western suburbs. Numerous transit and rail lines run out of 69th Street Station making the area a huge draw for tenants, and why most properties are, and historically have been, 95% or better occupied

The current owner has completed numerous capital improvements to the property including (6) new kitchens, new stucco exterior, new roof (two-part polyurethane spray over rubber membrane), and outdoor radiant heating system for parking. There is completely no deferred maintenance at the property, and there should not be any for the foreseeable future. The property is in excellent condition for the next owner.

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NOTE: Outside Brokers must complete this Cooperating Broker Agreement and return via email to info@rittenhouserealty.com or fax to 267-324-3394.

Brokers

Corey Lonberger
Tel: (215) 454-2852 EXT 1001
Cell: (267) 760-3726
License: PA RS279134 / DE RS0016407
corey@rittenhouserealty.com

Mark A. Duszak
Tel: (215) 454-2852 EXT 1003
Cell: (215) 805-5011
License: PA RS277420 / NJ 0047530
mark@rittenhouserealty.com

Ken Wellar
Tel: (215) 454-2852 EXT 1002
Cell: (610) 745-4800
License: PA RS289487 / NJ 1005492
ken@rittenhouserealty.com

Robert DiPasquale
Tel: (215) 454-2852 EXT 1016
Cell: (267) 222-2153
License: PA RS325260
bob@rittenhouserealty.com



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