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Inglewood Gardens 1199-1201 Columbia Ave 32 Unit Apartment Building $5,500,000 ($171,875/Unit) 7% Cap Rate Lansdale, PA 19446
Investment Highlights
- Value-Add Multifamily Asset: Opportunity to increase rents by 15% to 20% by renovating kitchens and baths
- Prime Lansdale Location: Walkable to Downtown Lansdale's main street shops and dining
- Stable Demand Drivers: Proximity to major employers including Merck (West Point Campus), and the broader Montgomery County employment base
- Efficient Unit Mix: 32-Unit community offering 20 two-bedroom units (63%) and 12 one-bedroom units (37%)
- Strong Regional Connectivity: Convenient access to Route 63, Route 202, and the Northeast Extension of I-476
Executive Summary
Inglewood Gardens Apartments is a 32-unit property located at 1199 and 1201 Columbia Avenue in Lansdale, Pennsylvania. The Property is walkable to the heart of the up-and-coming borough of Lansdale, major transit, and amenities, offering residents a quality of life steps from a bustling, walkable downtown culture while still being in a neighborhood location.
The two garden-style brick buildings consist of 32 apartment units. The extensive unit mix offers (12) one-bedroom/one-bath units averaging $1,029 per month and (20) two-bedroom/one-bath units averaging $1,150 per month, offering buyers significant upside potential on the rents. All 32 units offer generous layouts and on-site laundry facilities.
The in-place rents, which are well below the market average in the area, offer the ability to increase rents by 20% with kitchen and bathroom renovations. This allows new ownership to drive rental upside through modest improvements and improved operational management.
Set within walking distance of the center of the borough of Lansdale, Inglewood Gardens offers residents immediate access to daily amenities, local retail, parks, dining, and schools. The location is within 1 mile of the regional railway, offering residents easy access to the heart of Philadelphia and New York City. Its centralized location on Route 63 offers easy access to Willow Grove and Fort Washington. Route 202 running right past Lansdale gives the opportunity to get to King of Prussia, the Greater Philadelphia region, and Wilmington.
Residents will find easy access to public transportation not only outside of Lansdale but within its revitalized town center. Its location allows renters to attend the highly acclaimed North Penn School District, which is a top-rated school district in Pennsylvania.
With its premium location, excellent value-add opportunity, spacious one- and two-bedroom layouts, and built-in value-add potential, Inglewood Gardens Apartments offers an opportunity for investors seeking a stable, well-positioned apartment asset with exceptional latent potential.
The two garden-style brick buildings consist of 32 apartment units. The extensive unit mix offers (12) one-bedroom/one-bath units averaging $1,029 per month and (20) two-bedroom/one-bath units averaging $1,150 per month, offering buyers significant upside potential on the rents. All 32 units offer generous layouts and on-site laundry facilities.
The in-place rents, which are well below the market average in the area, offer the ability to increase rents by 20% with kitchen and bathroom renovations. This allows new ownership to drive rental upside through modest improvements and improved operational management.
Set within walking distance of the center of the borough of Lansdale, Inglewood Gardens offers residents immediate access to daily amenities, local retail, parks, dining, and schools. The location is within 1 mile of the regional railway, offering residents easy access to the heart of Philadelphia and New York City. Its centralized location on Route 63 offers easy access to Willow Grove and Fort Washington. Route 202 running right past Lansdale gives the opportunity to get to King of Prussia, the Greater Philadelphia region, and Wilmington.
Residents will find easy access to public transportation not only outside of Lansdale but within its revitalized town center. Its location allows renters to attend the highly acclaimed North Penn School District, which is a top-rated school district in Pennsylvania.
With its premium location, excellent value-add opportunity, spacious one- and two-bedroom layouts, and built-in value-add potential, Inglewood Gardens Apartments offers an opportunity for investors seeking a stable, well-positioned apartment asset with exceptional latent potential.
Property Facts
| Price | $5,500,000 | Building Class | C |
| Price Per Unit | $171,875 | Lot Size | 1.19 AC |
| Sale Type | Investment | Building Size | 36,969 SF |
| Cap Rate | 7% | Average Occupancy | 97% |
| No. Units | 32 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1959/2015 |
| Property Subtype | Apartment | Parking Ratio | 0.97/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | SC; GA | ||
| Price | $5,500,000 |
| Price Per Unit | $171,875 |
| Sale Type | Investment |
| Cap Rate | 7% |
| No. Units | 32 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 1.19 AC |
| Building Size | 36,969 SF |
| Average Occupancy | 97% |
| No. Stories | 3 |
| Year Built/Renovated | 1959/2015 |
| Parking Ratio | 0.97/1,000 SF |
| Zoning | SC; GA |
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Fairly walkable
50/100
Moderately drivable
70/100
Limited public transit
30/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 53-00-01924-003 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $441,380 |
Property Taxes
Parcel Number
53-00-01924-003
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$441,380
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