Summit Court Apartments_Property for Sale

101 Summit Ln, Bala Cynwyd, PA, 19004-2930, US

Summit Court Apartments

Asset Description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to present Summit Court (the “Property”), a 29-unit apartment community featuring private and semi-private entrances located on Philadelphia’s prestigious Main Line in Bala Cynwyd, PA. Summit Court is situated within the A+ ranked Lower Merion School District, and boasts an average household income of $202,529, presenting an investor with the opportunity to acquire a generational Main Line asset.

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Attributes

Number of units

Occupancy

93%

Year built

1952

Rentable area

2,676 m²

Media

Investment Highlights

Compelling Value Add Opportunity

Summit Court features 10% classic units with tenured residents and rents that trail the most recent leases by upwards of 15%. The Property features 90% two-bedroom units.

Transient Oriented Location

Summit Court benefits from its walkability to SEPTA's Cynwyd Station and is less than a 10-minute drive from premier Suburban Square.

"A+" Rated School District

Summit Court is located within the impressive "A+" Nicke ranked Lower Merion School District.

Significant Capital Infusion

Current ownership has invested over $1M in preventative maintenance and capital improvements.

Rising Cost of Home Ownership

On average, the monthly rental payment at the Property is 52% lower than the average cost of homeownership.

Superior Main Line Fundamentals

Year-over-year submarket rent growth is to remain above 3.5% through 2027.