X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

HAVERTOWN, PA-Victoria Arms Apartments, a five-story, 53-unit, mid-rise building at 1333 East Darby Rd. at the corner of Kathmere Rd. here sells for $3.3 million, or about $62,264 a unit. It contains 49 residential units and four street-level commercial spaces. Onsite tenant amenities include a laundry facility, rear courtyard, and secure entry and intercom system.

The price per unit, according to data from the Philadelphia office of Marcus & Millichap, is more than $4,000 over the projected median price per unit of $58,000 predicted for the overall Philadelphia MSA for 2004. The median price per unit increased 24% between 2002 and 2003 and is expected to continue its double-digit rise, according to M&M.

M&M was the exclusive broker for the Victoria Arms sale. This transaction is among several multifamily sales the firm has facilitated in the Philadelphia region this month. The company represented the seller of the Upsal Park Apartments at 234-240 East Sharpnack St. in Philadelphia, which traded for $920,000.

In addition, M&M facilitated the sale of a property at 4415 Main St. in Philadelphia’s Manayunk neighborhood that contains a retail space leased to Starbuck’s on the ground floor and two apartments above. The sale price was $1.2 million.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.