For Sale
$6,800,000

130 Garrett RdUpper Darby, PA 19082

64-unit apartment building, high occupancy, strong NOI.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional mixed-use property, located at 130 Garrett Rd, Upper Darby, PA 19082, presents a compelling value-add investment opportunity. The 52,800 square foot building boasts 64 units – a mix of studios, one-bedroom, and two-bedroom apartments – currently enjoying 90% occupancy. An additional 6,700 square feet of retail space is fully occupied by long-term tenants. Recent renovations totaling $250,000, including new appliances, flooring, and countertops, enhance the property's appeal. The asking price is $6,800,000, representing a current cap rate of 6.34% and a pro-forma cap rate of 8.01%. The current Net Operating Income (NOI) is $431,059, projected to increase to $544,401. The property's prime location near the 69th Street Transportation Center ensures high demand and consistent rental income. The strong unit mix, coupled with the potential for rent increases through further renovations, makes this a highly attractive investment. The building was renovated in 2024. This is a chance to capitalize on a thriving location and a proven value-add strategy. Delaware County location provides easy access to major transportation routes.

Highlights

  • Value-add opportunity with potential for rent increases through light renovations; $250,000 in recent capital expenditures.
  • Strong unit mix: 29% studios, 57% one-bedroom, and 14% two-bedroom apartments.
  • Transit-oriented location: Walking distance to the 69th Street Transportation Center.

Property Details for 130 Garrett Rd

Property type
Mixed-use properties, Apartment buildings
Square Feet
52,800 SF
Year Renovated
2024
Units
64

Location Insight

City
Upper Darby
County
Delaware
State
Pennsylvania
Latitude
39.960062028436
Longitude
-75.263639859505
130 Garrett Rd, Upper Darby, Pennsylvania

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130 Garrett Rd
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