Upper Darby Apartment Complex Traded for $8.1 Million
Located in Upper Darby, Shirley Apartments, “a 153-unit multifamily community in suburban Philadelphia, changed hands for $8.1 million.”
The announcement released by Rittenhouse Realty Advisors and shared by Multi Housing News (MHN) claims that “the buyer is out of North Jersey and has numerous holdings in the immediate area,” but the buyer’s name has not yet been disclosed.
The property comes with numerous assets, including recent renovations, often difficult to find in a demanding market.
Shirley Court has a “93.5 percent occupancy rate as of June and offers 136 one-bedroom and 17 two-bedroom apartments. With an average rent of $765 in 2015, the property encompasses units ranging between 500 and 750 square feet.
The three-building community features a 75-spot subterranean parking garage, as well as 2,000 square feet of open space that could accommodate new units or an amenities area.”
RRA Director Mark Duszak says “this asset hit all the right buttons buyers are looking for.”
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