Just Listed: 17 Units in Middletown, PA

• 16-Unit Multifamily Building with 1 Ground Floor Retail Space in Middletown, Dauphin County, Pennsylvania
• Excellent Location: Walking Distance to Downtown Middletown, Amtrak Station, and Penn State Harrisburg
• Recent Capital Improvements: New Blacktop, Facade Repoint, and Brand New Individualized Unit Plumbing
• Value Add: Increase Rents Upon Lease Renewal

Marcus & Millichap is pleased to present for sale 134-136 South Union Street – A 17-unit building located in Middletown, Dauphin County, Pennsylvania. Middletown is home to more than 9,200 people, and is located 13 miles south east of Harrisburg. In addition to its proximity to Harrisburg, the asset also sits one-half mile from the Harrisburg campus of The Pennsylvania State University. This campus has an enrollment of just over 5,000 students

The units and common areas are well maintained due to the owner’s attention to the property. The owner has kept the building up-to-date by re-pointing and painting the brick facade, re-paving the parking lot, replacing roof sections, and by replacing and individualizing all drain pipes with PVC to all units. The owner has also updated many of the units with new flooring, new ceilings, appliances, bathrooms, and new windows. The current under-market rents of many of the units serve as a value-add opportunity for an investor purchasing the property. Many of the units are commanding below market rents, which could be raised with little to no additional upgrades. An investor acquiring the property would simply have to bump the rents upon lease renewal to realize this gain in income.

In addition to the upgrades to the asset itself, Middletown has undergone a major facelift, including Union Street where the asset is located. In 2016, Union Street was overhauled with new water and sewer pipes, new sidewalks, street lights, newly paved streets, storm drains, and landscaping. These renovations are due to a borough initiative, as well as the growth of Penn Sate Harrisburg.

For More Information, Contact:

• Will Riter at 215-531-7059 or [email protected]
• Clarke Talone at 215-531-7021 or [email protected]