UPPER DARBY, PA-Private investor Jeff Taylor has sold a two-asset multifamily portfolio aggregating 82 units to Abraham Philip and a partner, both based in Brooklyn, NY, for nearly $3.6 million, or $43,293 a unit. The properties are Ashby Court at 6820 Ludlow St. here and Colwyn Apartments at 300 Main St. in Colwyn, about two miles to the east.

The 48-unit Ashby Court dates back to the late 1920s and is located in a residential neighborhood adjacent the business district. It contains one studio and 44 one-bedroom and three two-bedroom units. The Colwyn property, built in the mid 1960s, is in the center of town. It contains 34 one-bedroom units and provides off-street parking.

Fred Paisley of the Philadelphia office of Marcus & Millichap represented both sides. "Taylor disposed of his last apartment holding and is looking for more passive real estate," Paisley tells GlobeSt.com. Both of the properties are fully leased and will remain rentals, according to Paisley.

This transaction coincides with a year-end 2005 Marcus & Millichap report stating, "the primarily class B and C Olney, Oak Lane submarket will remain the Philadelphia metro's most affordable area." The report puts the average monthly rental rate in this area at $649, which represents a 5.2% increase from the previous year. The report also says, "sales of small complexes dominate the region's activity."