The portfolio encompasses 221,235 sf and contains a total of 288 units. Therefore, the selling price represents $47,743 a unit and $62 per sf. The average occupancy among all the properties is 94%.
Donald MacLaren, a director of the national multi-housing group of Marcus & Millichap and a senior investment specialist in the company's Philadelphia office, is the exclusive listing agent. "The properties are well-maintained and located in close proximity to each other with management in place," he says. "Historically, they have each experienced stable occupancy and below market rates, which allow potential for income growth in the near future. This diversified portfolio provides an investment opportunity with potential for upside growth," he adds.
M&M's multi-housing group is the division of the investment brokerage company that focuses exclusively on brokering multifamily properties. M&M, based in Encino, CA, has 34 offices nationwide and lays claim to being the country's largest commercial real estate brokerage devoted exclusively to real estate investments.
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