424 N Black Horse Pike | Runnemede, NJ 08078
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424 N Black Horse Pike
Runnemede, NJ 08078
Regent Court Apartments · Multifamily Property For Sale
·
24 Units
INVESTMENT HIGHLIGHTS
- Significant Upside Through Renovation: Renovated units have achieved an average rent 70% higher than unrenovated legacy units.
- No Rent Stabilization: The Portfolio is in a municipality that is not subject to rent stabilization or rent control.
- Strong Location for Commuters: There is a bus station immediately in front of both properties and Exit 3 of the New Jersey Turnpike is less than one m
- Below Market Rents: Ownership has prioritized leasing the property to secure cash flow over maximizing rent.
- Desirable Residential Neighborhood: The neighborhood features dozens of small businesses in addition to major national retailers.
- Philadelphia MSA: The Portfolio is just 8 miles from Center City Philadelphia, the sixth most populous city in the U.S.
PROPERTY FACTS
| No. Units | 24 | Lot Size | 0.57 AC |
| Property Type | Multifamily | Building Size | 17,500 SF |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built | 1960 |
| Building Class | C | Parking Ratio | 0.8/1,000 SF |
| Zoning | N/Av, Runnemede Boro | ||
| No. Units | 24 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.57 AC |
| Building Size | 17,500 SF |
| No. Stories | 2 |
| Year Built | 1960 |
| Parking Ratio | 0.8/1,000 SF |
| Zoning | N/Av, Runnemede Boro |
AMENITIES
UNIT AMENITIES
- Balcony
- Refrigerator
SITE AMENITIES
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 12 | - | 600 |
| 1+1 | 12 | - | 750 |
PROPERTY TAXES
| Parcel Number | 30-00048-0000-00001 | Improvements Assessment | $454,300 |
| Land Assessment | $240,000 | Total Assessment | $694,300 |
PROPERTY TAXES
Parcel Number
30-00048-0000-00001
Land Assessment
$240,000
Improvements Assessment
$454,300
Total Assessment
$694,300
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