Summit Court Apartments
101 Summit Ln, Bala Cynwyd, PA, 19004-2930, US
29 units
On behalf of Friedman Realty Group (“Managing Agent”), Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to present the opportunity to acquire The Preserve at Darby Creek (the “Property”), a 96-unit, two-bedroom apartment and townhome community featuring private entrances and bi-level floorplans. 88 units or 92% of the unit mix consists of 2BR/1.5BA townhome floor plans. All units contain a full size washer and dryer with market leading oversized floorplans. All roofs, windows, siding and the majority of boilers have been replaced allowing an investor to exclusively focus on implementing a luxury renovation in the units through stainless steel appliances and quartz countertops while capitalizing on potential premiums upwards of $175/unit. In addition, the opportunity exists to implement a RUBs program to recapture gas, water and sewer expenses which are currently paid for by the owner. The property benefits from Darby Creek water views while complementing the picturesque setting with market leading amenities that include a dog park, BBQ area, and kids’ playground. The ability exists to reimagine currently underutilized basement space in each building into storage and/or amenity space. The Property is located just off Route 420 and I-95, less than 5 minutes to Philadelphia’s International Airport and walkable to SEPTA's Prospect Park station in Delaware County, Pennsylvania.
Family Owned & Operated
Distinct Apartment and Townhome Community
Major Capex Items Completed
Compelling Rental Upside
Scenic Water Views of Darby Creek