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STOWE, PA-An undisclosed seller has placed Pottsgrove Townhomes,a 116-unit apartment complex at 201 Jay St., is being on the marketat an asking price of $11.5 million, or $99,138 a unit. Thecomplex, which occupies approximately 7.5 acres, was completed in1971.

"The upside includes long-term capital appreciation due tocontinued growth in the area, significantly upside rental potentialdue to the style and quality of the apartments, and the potentialof condo conversion as a solid exit strategy," Donald MacLaren Jr.,an investment specialist in the Philadelphia office of Marcus &Millichap Real Estate Investment Brokerage Co. Published rentalrates range from $825 to $850 a month. MacLaren is marketing theproperty along with Michael Wexler of the same office. Occupancy iscurrently 96%, Wexler says, "and, because this is the best productin the submarket, we believe the rental rates could increase by $30to $50 a unit."