Sparrow House
6144 Germantown Ave, Philadelphia, PA, 19144, US
50 units
Asset Description
Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to present the opportunity to acquire Mount Laurel Manor Apartments (the “Property”, or “Mount Laurel Manor”), a 37-unit, core-plus apartment community located in Mount Laurel, New Jersey.
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Attributes
Number of units
37
Occupancy
97%
Year built
2022
Building area net
3,664 m²
Land area gross
1.22 ha
Media
Investment Highlights
Core Plus Offering with Rental Upside
- Two and three bedrooms trail the best-in-class competitive set by 16% and 18% respectively.
Opportunity to Enhance Amenity Package
- Future ownership is presented with the opportunity to develop the courtyard into a versatile outdoor space.
Strong Submarket Fundamentals
- Year-over-year rent growth is expected to hover around 3.0% foreseeable future.
Attractive Demographics
- The average household income within a 3-mile radius exceeds $150,000.
Oversized Floor Plans
- Mount Laurel Manor features oversized apartments, with an average size of 1,066 square feet.
#2nd Best School District in County
- The Lenape Regional School District is ranked 2nd out of the 14 school districts in Burlington County.
Contact brokers
Mount Laurel Manor (0 Properties)
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Last updated
16 Jan 2025
