Germantown Apartments, Arborwood Townhomes Sell for $8,080,000

arborwoodArborwood Townhomes (Submitted Image)

PHILADELPHIA, PA — Rittenhouse Realty Advisors recently disclosed the sale of 66 apartments in the Germantown section of Philadelphia.

The property consists of 33 duplexes, each with two 1-bedroom apartments with garage parking for each unit. Tenants enjoy great access to vibrant retail districts and outdoor activities as well as close proximity to a SEPTA Regional Rail to Center City, Philadelphia. The property was marketed as a value-add opportunity in a growing market.

Ken Wellar, managing partner at RRA, stated, “We are seeing more out-of-state buyers paying aggressive cap rates based on pro-forma assumptions. Arborwood has great rent growth potential given the seller owned the properties for over 30 years.”

For more information on current rates or to view our available listings visit www.RittenhouseRealty.com and www.GREA.com.

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