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Hampden Manor Narberth, Pa

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Hampden Manor Narberth, Pa BRENTON HALL and Hampden Manor narberth, pa NARBERTH, PENNSYLVANIA MacLarenT • Talone • TownsendT MultifamilyM Housing Specialists www.maclaren-group.com exclusively listed brenton hall Hampden Manor 115 North Essex Avenue 325 Haverford Avenue Narberth, PA 19072 Narberth, PA 19072 26 UNITS 14 UNITS MacLaren • Talone • Townsend& | Multifamily Housing Specialists Clarke Talone Andrew Townsend Ridge MacLaren Dan Bernard First Vice President Investments First Vice President Investments Senior Vice President Investments Senior Associate PHILADELPHIA OFFICE PHILADELPHIA OFFICE PHILADELPHIA OFFICE PHILADELPHIA OFFICE Tel: 215.531.7021 Tel: 215.531.7020 Tel: 215.531.7019 Tel: 215.531.7022 [email protected] [email protected] [email protected] [email protected] License: PA RS299113 License: PA RS304074 License: PA RB-063070-L License: PA RS331381 License: NJ 0787408 License: NJ 0680787 License: PA RM042723B License: DE RS-0019808 License: DE RS-0019885 License: NJ 0673619 License: DE RB-0002461 MacLarenT • Talone • TownsendT MultifamilyM Housing Specialists BRENTON HALL & HAMPDEN MANOR CONFIDENTIALITY & DISCLAIMER The information contained in the following Marketing Brochure is Introduction proprietary and strictly confidential. It is intended to be reviewed only • Investment Overview by the party receiving it from Marcus & Millichap and should not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared to 1 provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough Financial Analysis due diligence investigation. Marcus & Millichap has not made any • Rent Roll Summary investigation, and makes no warranty or representation, with respect • Operating Statement & Notes to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the 2 property and improvements, the presence or absence of contaminating Property Description substances, PCB’s or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the • Brenton Hall financial condition or business prospects of any tenant, or any tenant’s - Detailed Investment Overview plans or intentions to continue its occupancy of the subject property. The - Photos information contained in this Marketing Brochure has been obtained 3 from sources we believe to be reliable; however, Marcus & Millichap has - Aerial not verified, and will not verify, any of the information contained herein, • Hampden Manor nor has Marcus & Millichap conducted any investigation regarding these - Detailed Investment Overview matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential - Photos buyers must take appropriate measures to verify all of the information - Aerial set forth herein. • Location Overview NON-ENDORSEMENT NOTICE • Local Map Marcus & Millichap Real Estate Investment Services, Inc. (“M&M”) is • Public Transportation Map not affiliated with, sponsored by, or endorsed by any commercial tenant • Regional Map or lessee identified in this marketing package. The presence of any corporation’s logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of M&M, its Rent Comparables affiliates or subsidiaries, or any agent, product, service, or commercial • Map listing of M&M, and is solely included for the purpose of providing • Comparables tenant lessee information about this listing to prospective customers. 4 RENT DISCLAIMER Any rent or income information in this offering memorandum, with the Sales Comparables exception of actual, historical rent collections, represent good faith • Map projections of potential future rent only, and Marcus & Millichap makes no representations as to whether such rent may actually be attainable. • Comparables Local, state, and federal laws regarding restrictions on rent increases 5 SPECIAL COVID-19 NOTICE may make these projections impossible, and Buyer and its advisors All potential buyers are strongly advised to take advantage of their opportunities and obligations to conduct thorough due diligence and should conduct their own investigation to determine whether such rent seek expert opinions as they may deem necessary, especially given the unpredictable changes resulting from the continuing COVID-19 increases are legally permitted and reasonably attainable. pandemic. Marcus & Millichap has not been retained to perform, and cannot conduct, due diligence on behalf of any prospective purchaser. Marcus & Millichap’s principal expertise is in marketing investment properties and acting as intermediaries between buyers ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. and sellers. Marcus & Millichap and its investment professionals cannot and will not act as lawyers, accountants, contractors, or PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR engineers. All potential buyers are admonished and advised to engage other professionals on legal issues, tax, regulatory, financial, and MORE DETAILS. accounting matters, and for questions involving the property’s physical condition or financial outlook. Projections and pro forma financial statements are not guarantees and, given the potential volatility created by COVID-19, all potential buyers should be comfortable with ACTIVITY ID: Y0990007 and rely solely on their own projections, analyses, and decision-making. BRENTON HALL & hampden manor INTRODUCTION Investment Overview BRENTON HALL & HAMPDEN MANOR introduction BRENTON HALL HAMPDEN MANOR ADDRESS 115 North Essex Ave. ADDRESS 325 Haverford Ave. Narberth, PA 19072 Narberth, PA 19072 # OF UNITS 26 # OF UNITS 14 RENTABLE SF 12,420 RENTABLE SF 9,044 YEAR BUILT 1926 YEAR BUILT 1963 LOT SIZE 0.26 Acres LOT SIZE 0.4 Acres investment highlights . • 40 Units - Two Suburban Trophy Properties Located in an Irreplaceable Main Line Location • 88 Walk Score - 3 Minute Walk to Narberth Train Station and Downtown Narberth, which Features Shopping, Dining and Parks • Well Maintained with Numerous Capital Improvements, Including Roof and Boilers at Brenton Hall, and Flooring and Windows/Sliding Doors at Hampden Manor • Value Add - Up to $200 Upside in Rents Through Unit Renovations BRENTON HALL & HAMPDEN MANOR introduction investment OVERVIEW Marcus & Millichap is pleased to present for sale Brenton Hall and Hampden Manor - 40 units located in Narberth, on the Main Line, Pennsylvania. Brenton Hall is a 26-unit building, and Hampden Manor consists of two 7-unit buildings. The two communities are located just 0.25 miles apart. Brenton Hall’s unit mix comprises (13) studio/one-bath unit, and (13) one-bedroom/one-bath units. The building is impeccably maintained, with many recent capital improvements. The interior common areas of the building have been recently renovated, with new carpeting and a modern color palette. Units feature original trim, built-ins, hardwood floors, and French doors, but have been updated with fresh paint, new lighting/ fixtures, and modern kitchens in select units. Each unit is unique, featuring various historic built-ins, different architectural details, and pleasing paint colors. The building has an on-site laundry facility. There is ample space for a new investor to add amenities for the residents, such as a lounge, fitness center, and storage. Hampden Manor’s unit mix comprises (12) one-bed/one bath units, and (2) two-bedroom/one-bath units. The units range in size from 445-1,025 SF. Most units feature a balcony or patio. The buildings are impeccably maintained, with many recent capital improvements. These include new double-glazed windows and sliding doors throughout, new commercial- style garage doors and newer exterior paint and signage. Units have had flooring upgraded to plank vinyl in attractive “Colorado Hickory”. While both properties have been maintained in excellent condition and continue to experience strong occupancy, their rents are below the competitors in the submarket. A unit renovation plan that would include upgraded kitchens and baths would allow an investor to increase rents and achieve a strong return on investment. Narberth, with a quaint and walkable downtown, is one of the most desirable communities along the famed Main Line. There is a significant delta between current rents at Hampden Manor/Brenton Hall and the renovated/new apartment communities in Narberth. This will allow an investor to increase rents, while still providing a comparatively affordable option for the residents looking to rent in the Narberth community. These buildings will be delivered free and clear of debt, allowing an investor to take advantage of the attractive financing market. BRENTON HALL & hampden manor FINANCIAL ANALYSIS Rent Roll Summary Operating Statement & Notes BRENTON HALL & hampden manor FINANCIAL ANALYSIS rent roll summary UNIT TYPE # OF UNITS APPROX. SF CurrentCURRENT RENTS RENT/SF MONTHLY INC. ProP.F. Forma RENTS RENT/SF MONTHLY INC. Studio/1 Bath Small - Brenton 1 300 $810 $2.70 $810 $900 $3.00 $900 Studio/1 Bath - Brenton 12 470 $1,029 $2.19 $12,348 $1,200 $2.55 $14,400 1 Bed/1 Bath Jr. - Brenton 1 470 $850 $1.81 $850 $1,250 $2.66 $1,250 1 Bed/1 Bath - Brenton 6 490 $1,064 $2.17 $6,384 $1,350
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