Gomberg Report >
Pennsylvania

Updated 6/27/2012
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Town
Property Description
Asking Price
Gross Income
Gross Multiplier
PPU
Comments
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Akron
65 unit
5.45M
85% Financing Available
NOI=388K
83,846
The current owner acquired the communities in 1985, with development and construction occurring between 1978 and 1983. Fulton Manor is comprised of three (3) buildings situated on a single 2.20 acre lot, while Colonial Apartments also consists of three (3) buildings, each is located on its own lot, individual from the others. Fulton Manor is a two-story townhouse and garden-style community with excellent construction. Each unit has a private patio or balcony, and a washer/dryer hook-up. The apartments range from 850 to 975 square feet. The site is a beautiful suburban setting with abundant open space. Site density is 14.5 units per acre. Colonial Apartments features two-story construction of 33 garden apartment units. Each unit contains 2 bedrooms and 1 bath, is separately metered for electric
Michael Wagner 717-735-6000
Erie
72 unit
5.234M
85% Financing Available
NOI=382K
72,694
Multifamily Portfolio, located in Erie & Edinboro, PA. All four properties are in excellent condition, have strong historical occupancy, multiple upgrades and solid cash flows. 
Lynwood Dr, Edinboro - 22 Unit townhome complex with 9 2BR, 11 3BR and 2 4BRunits. 
Dundon Rd, Edinboro - 8 Unit townhome complex with all 3 BRs.
W. 9th St, Erie - 26 Unit complex with 9 1BR and 17 2BR units.
State St, Erie - 16 Unit complex with 13 1BR, 1 2BR and 2 efficiency units.
Sherry Bauer 814-460-2000
Lancaster
38 unit
2.375M
85% Financing Available
62,500

This apartment complex was renovated in 1993 with 6 additional, 2 bedroom townshouse units. This property is 100% occupied. Excellent cash flow. Ample parking with adjacent lot of 20+ spaces is included in sale.

Chuck Heller 717-731-1990
Philadelphia
47 unit
2.75M
85% Financing Available
NOI=193K
58,510
Convenient, private, off-street 22 space parking lot. Overlooks a beautiful, well maintained city park. Spacious layouts with lots of natural lighting and walk-in closets. Coin operated washer/dryer and food & beverage vending machines in common areas. Under Market rents give great potential to increase NOI. This is an operating, renovated, and 100% leased, 47 unit apartment building
Jay Savitz 609-320-0195