Maple Grove Apartments

151 Maple Avenue; Dublin, PA 18917

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Property Details

  • Price$ 3,000,000
  • Property TypeMulti Unit Housing
  • NeighborhoodBucks County
  • Number of Units32
  • Lot Size3.39 acres
  • Price/Unit$ 93,750
  • Price/Bedroom-
  • Year Built1974

Investment Highlights

  • 100% Occupied
  • All Brick Construction with Pitched Roofs
  • Two-Story, Garden-Style Apartments
  • Separately Metered Utilities
  • 100% of Units are Two Bedrooms
  • Lowest Rents in the Sub-Market
  • 2017 Average Household Income within Three-Mile Radius is $84,324
  • Close Proximity to Doylestown, the County Seat of Bucks County

Investment Overview
Rittenhouse Realty Advisors (“RRA”) extends to qualified investors the opportunity to acquire the fee simple interest in Maple Grove Apartments, 32-unit garden-style apartments, located in Dublin, Pennsylvania – one of Bucks County’s most up-and-coming sub-markets.

Maple Grove Apartments has been owned and managed by current ownership since the early 1980’s. The property sits on 3.38 acres and has excellent construction features including brick exterior walls, pitched roofs and two-story construction on a concrete slab. Utilities are all electric and separately metered to the resident. The unit mix is outstanding with 100% two-bedroom units (850 square foot).

The property presents an excellent value-add opportunity. Average in-place rents are $823 which are the lowest in the sub-market. The adjacent property, built by the same builder, has rents approximately $275 higher for the same two-bedroom floor plan. Those same rents can be achieved if the new owner replaces the windows and upgrades the kitchens (keeping the existing kitchen cabinets). Currently, occupancy is at 100%.

Dublin once thought of as a “bedroom community” for the neighboring town of Doylestown, has come into its own as a low-density suburban option with new homes, shopping centers, and restaurants. With an average household income of $84,000 and only 7 miles from Doylestown, Dublin’s strategic location allows residents to work in Center City Philadelphia, numerous suburban areas (Horsham, Fort Washington, Conshohocken, and Trevose) as well as Lehigh County, and central New Jersey. Maple Grove Apartments presents an outstanding, value-add opportunity for the new owner.

Offering Memorandum


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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

Mark 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

Douglas Emrich
Tel: (215) 454-2852 EXT 1005
Cell: (610) 733-8482
License: PA RS320748
doug@rittenhouserealty.com

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

Luke DeLuca
Tel: (215) 454-2852 EXT 1014
Cell: (646) 712-7360
License: PA RSR001990
luke@rittenhouserealty.com



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