700 Rupp Avenue | 12 Units
Mechanicsburg, PA | Harrisburg Metro
Overview
- Offering Price $1,800,000
- Pro Forma CAP Rate 7%
- Apartment Units 12
- Price per Unit $150,000
- Building Size 9,900 SF
- Lot Size 45,738 SF
Rupp Avenue Apartments is a 12-unit residential property in the highly desirable borough of Mechanicsburg, Pennsylvania. Built in 1978, the 12-unit community consists of (10) two-bedroom and (2) one-bedroom units. Four of the 12 units have been renovated and leased at a higher monthly rental rate of $1,350. A new owner can complete similar upgrades to kitchens and baths in the remaining 8 units and increase those rental rates by $300 to $400. Residents are responsible for electricity which covers heat/air conditioning, cooking, and hot water, while the owner is responsible for cold water, sewer, and trash.
Mechanicsburg is a thriving borough in Cumberland County. Rupp Street Apartments enjoys the benefits of being located just outside of Harrisburg. The proximity to the state capital (Harrisburg), creates a strong job market with diverse employment opportunities in the healthcare, education, technology, government, and retail sectors. Though the area has seen significant growth, Mechanicsburg is still known for its suburban charm and appeal to young professionals and families due to the excellent schools and low crime rates.
Rupp Street Apartments offers an outstanding opportunity to acquire 12 apartment units with below-market rents in one of the fastest-growing regions in Central Pennsylvania.
