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PINE GROVE TOWNHOMES 305 S Warminster Rd 22 Unit Apartment Building $8,309,460 CAD ($377,703 CAD/Unit) 7% Cap Rate Hatboro, PA 19040
INVESTMENT HIGHLIGHTS
- Pride of Ownership: First Time Property is Being Offered For Sale Since 1998; Well Maintained; Long-Term Family Ownership
- Strong Unit Mix: 100% Two-Bedroom Townhome Style Units; 1,000± SF
- High-Occupancy Market: 95% or Higher Occupancy Rate in Horsham/Willow Grove Sub-Market
- Value-Add Opportunity: In-Place Rents up to $300 Below Market; Ability to Increase Rents with Renovation to Kitchens & Baths
- Top-Rated School District: Situated within Upper Moreland School District
EXECUTIVE SUMMARY
This provides a rare opportunity to acquire a well-maintained, low-density multifamily asset offering significant upside potential to prospective buyers. Located in the desirable Horsham/Willow Grove Submarket of Montgomery County, Pennsylvania, this 22-unit garden-style townhome community offers a compelling combination of stabilized operations, below-market rents, and in-demand unit features.
Situated on a generous 1.94-acre parcel in Upper Moreland Township, Pine Grove Townhomes consists of (4) two-story buildings constructed in 1971. The Property features spacious townhome units, each with private entrances, in-unit washers and dryers, full basements, eat-in kitchens, walk-in closets, and oversized bedrooms. The two-bedroom bi-level units average 1,000± square feet. These features - uncommon in today’s rental market - make Pine Grove highly attractive to families and long-term tenants seeking comfort and convenience in a suburban setting.
The Property is currently stabilized with average in-place rents of approximately $1,939 per unit. Market data indicates that similar units in this area can achieve monthly rents of $2,200 or more. This presents an immediate opportunity for investors to capture over 13% in rental upside, either through natural tenant turnover or light value-add improvements. With 45 surface parking spaces (a ratio of roughly 2 spaces per unit), Pine Grove also provides ample off-street parking, further enhancing its appeal.
Located within the highly regarded Upper Moreland School District and offering easy access to major roadways such as Route 611 and the Pennsylvania Turnpike(I-276), Pine Grove benefits from strong regional connectivity and proximity to retail, dining, and employment hubs. This location, combined with the property's residential feel and strong school district, supports ongoing demand and tenant retention.
Pine Grove Townhomes is a Class “B” asset in a fundamentally strong and stable suburban Philadelphia submarket. With its strong in-place cash flow, desirable unit layouts, and clear path to income growth, it offers investors an ideal mix of stability and upside in one of Montgomery County’s most consistently performing rental markets.
Situated on a generous 1.94-acre parcel in Upper Moreland Township, Pine Grove Townhomes consists of (4) two-story buildings constructed in 1971. The Property features spacious townhome units, each with private entrances, in-unit washers and dryers, full basements, eat-in kitchens, walk-in closets, and oversized bedrooms. The two-bedroom bi-level units average 1,000± square feet. These features - uncommon in today’s rental market - make Pine Grove highly attractive to families and long-term tenants seeking comfort and convenience in a suburban setting.
The Property is currently stabilized with average in-place rents of approximately $1,939 per unit. Market data indicates that similar units in this area can achieve monthly rents of $2,200 or more. This presents an immediate opportunity for investors to capture over 13% in rental upside, either through natural tenant turnover or light value-add improvements. With 45 surface parking spaces (a ratio of roughly 2 spaces per unit), Pine Grove also provides ample off-street parking, further enhancing its appeal.
Located within the highly regarded Upper Moreland School District and offering easy access to major roadways such as Route 611 and the Pennsylvania Turnpike(I-276), Pine Grove benefits from strong regional connectivity and proximity to retail, dining, and employment hubs. This location, combined with the property's residential feel and strong school district, supports ongoing demand and tenant retention.
Pine Grove Townhomes is a Class “B” asset in a fundamentally strong and stable suburban Philadelphia submarket. With its strong in-place cash flow, desirable unit layouts, and clear path to income growth, it offers investors an ideal mix of stability and upside in one of Montgomery County’s most consistently performing rental markets.
PROPERTY FACTS Under Contract
| Price | $8,309,460 CAD | Building Class | B |
| Price Per Unit | $377,703 CAD | Lot Size | 1.94 AC |
| Sale Type | Investment | Building Size | 25,496 SF |
| Cap Rate | 7% | Average Occupancy | 100% |
| No. Units | 22 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1971 |
| Property Subtype | Apartment | Parking Ratio | 1.76/1,000 SF |
| Apartment Style | Townhome | ||
| Zoning | M, Upper Moreland | ||
| Price | $8,309,460 CAD |
| Price Per Unit | $377,703 CAD |
| Sale Type | Investment |
| Cap Rate | 7% |
| No. Units | 22 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Townhome |
| Building Class | B |
| Lot Size | 1.94 AC |
| Building Size | 25,496 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1971 |
| Parking Ratio | 1.76/1,000 SF |
| Zoning | M, Upper Moreland |
AMENITIES
UNIT AMENITIES
- Microwave
- Washer/Dryer
- Heating
- Eat-in Kitchen
- High Speed Internet Access
- Walk-In Closets
- Wi-Fi
- Basement
- Smoke Free
SITE AMENITIES
- Business Center
- Clubhouse
- Fitness Center
- Laundry Facilities
- Sauna
- Tennis Court
- Furnished Units Available
- Package Service
- Volleyball Court
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CONTACTS
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Daniel Yadgaroff -
Kenneth Wellar -
Corey Lonberger -
Luke DeLuca -
Kiersten Mangin -
Charles Lang
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GREA
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PINE GROVE TOWNHOMES | 305 S Warminster Rd
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