Overview

  • Offering Price $5,900,000
  • Unit Count 21
  • Pro Forma CAP Rate 6.2%
  • Price / Unit $280,952
  • Garage Count 12
  • Lot Size 90,170 SF

Manor House Apartments is a beautiful property set on two acres in a quiet neighborhood of Willow Grove, Pennsylvania. This exceptional property features a total of 21 units. In the 1950s the original estate was transformed into nine vintage apartments, each with unique layouts and charm. In the 1960s, an additional 12 units were constructed around the historic estate, which includes 10 spacious two-bedroom units averaging 1,295 square feet, one boutique carriage house, and one large single-family home. The property also offers 12 contiguous garages.

The unit mix is impressive, featuring 76% two-bedroom, and 24 % one-bedroom apartments. Willow Grove is a thriving, affluent area presenting an opportunity for a new owner to modernize kitchens and bathrooms and increase rents by over 15%.

Manor House Apartments benefits from a prime location in one of the most accessible suburban markets of Philadelphia - Horsham/Willow Grove. It is just minutes from the Pennsylvania Turnpike (I-276), granting tenants easy access to business hubs, including Conshohocken, King of Prussia, and the Main Line. Additionally, Route 611 is located just blocks away, providing a direct route to Center City Philadelphia via Broad Street. Tenants also enjoy a quick 5-minute drive to both the Willow Grove and Crestmont train stations on the SEPTA Warminster Regional Rail Line.

With high barriers to entry and fewer than ten transactions in the past five years in this region, Manor House Apartments offers investors a rare chance to establish themselves in one of Philadelphia's most desirable suburban markets, along with a genuine value-add opportunity.

  • — Value-Add Opportunity: Ability to Increase Rents up to $500 per Unit per Month by Renovating Kitchens and Bathrooms
  • — Strong Unit Mix: 76% of the Units are Two-Bedroom Averaging Over 1,100 SF
  • — High-Occupancy Market:100% Current & Historical Occupancy; 95% or Higher Occupancy Rate in Horsham/Willow Grove Sub-Market
  • — Access to Public Transit: Less than 1 Mile to SEPTA Regional Rail Station (Warminster Line) and Numerous Bus Routes
  • — Proximity to Major Roadways: Minutes to The Pennsylvania Turnpike (I-276); Blocks to Easton Road (Route 611)