This feature is unavailable at the moment.

We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.

Please check back in a few minutes. We apologize for the inconvenience.

- LoopNet Team

You must register your contact information to view secure information on this listing.
You must register your contact information to view secure information on this listing.

Share This Listing

Please enter a valid email address.

Note: To send this property to multiple individuals, insert a semi-colon between each recipient's email address.

LoopNet has taken a strong stance against the practice of sending unsolicited commercial emails, also known as "spam." Please send these emails only to people you know who would be interested in this property. If someone asks you not to send these emails to them, please comply.

thank you

Your email has been sent!

12 Apartment Units 700 Rupp Ave

9,900 SF 100% Leased Retail Building Mechanicsburg, PA 17055 $2,584,980 CAD ($261 CAD/SF) 7% Cap Rate

Investment Highlights

  • Desirable Unit Mix: (10) Two-Bedroom and (2) One-Bedroom Units
  • Excellent Location: Access to Routes 11 and 15 and Interstates 81 and 83; Public Transit Options via Capital Area Transit (CAT) and Amtrak
  • "Commuter Town" for Harrisburg: +15 Minute Drive to Downtown Harrisburg; Employment Hub for Government, Healthcare and Education
  • Value Add Opportunity: Increase Rents ±10% “As Is”, or Renovate Existing Units and Increase Rents ±25%
  • Proximity to Major Employers: Penn State Health, UPMC Pinnacle, Highmark, Giant, Naval Support Activity Base, Penn State Harrisburg, & More
  • Access to Major Retail Corridors: Routes 11 & 15 Corridors for Shopping, Dining, and Entertainment; Proximity to Capital City Mall & More

Executive Summary

Rupp Avenue Apartments is a 12-unit residential property in the highly desirable borough of Mechanicsburg, Pennsylvania. Built in 1978, the 12-unit community consists of (10) two-bedroom and (2) one-bedroom units. Four of the 12 units have been renovated and leased at a higher monthly rental rate of $1,350. A new owner can complete similar upgrades to kitchens and baths in the remaining 8 units and increase those rental rates by $300 to $400. Residents are responsible for electricity which covers heat/air conditioning, cooking, and hot water, while the owner is responsible for cold water, sewer, and trash.
Mechanicsburg is a thriving borough in Cumberland County. Rupp Street Apartments enjoys the benefits of being located just outside of Harrisburg. The proximity to the state capital (Harrisburg), creates a strong job market with diverse employment opportunities in the healthcare, education, technology, government, and retail sectors. Though the area has seen significant growth, Mechanicsburg is still known for its suburban charm and appeal to young professionals and families due to the excellent schools and low crime rates.
Rupp Street Apartments offers an outstanding opportunity to acquire 12 apartment units with below-market rents in one of the fastest-growing regions in Central Pennsylvania.

Property Facts

Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
9,900 SF
Building Class
B
Year Built
1978
Price
$2,584,980 CAD
Price Per SF
$261 CAD
Cap Rate
7%
NOI
$180,949 CAD
Percent Leased
100%
Building Height
3 Stories
Building FAR
0.16
Lot Size
1.43 AC

Nearby Major Retailers

United Rentals
Weis Markets
PNC Bank
ALDI
Truist

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
13-24-0795-150C
Land Assessment
$513,391 CAD
Improvements Assessment
$402,097 CAD
Total Assessment
$915,488 CAD
  • Listing ID: 34276026

  • Date on Market: 2024-12-23

  • Last Updated:

  • Address: 700 Rupp Ave, Mechanicsburg, PA 17055

Please Share Your Feedback

We welcome any feedback on how we can improve LoopNet to better serve your needs.
X
{{ getErrorText(feedbackForm.starRating, 'rating') }}
255 character limit ({{ remainingChars() }} characters remainingover)
{{ getErrorText(feedbackForm.msg, 'rating') }}
{{ getErrorText(feedbackForm.fname, 'first name') }}
{{ getErrorText(feedbackForm.lname, 'last name') }}
{{ getErrorText(feedbackForm.phone, 'phone number') }}
{{ getErrorText(feedbackForm.phonex, 'phone extension') }}
{{ getErrorText(feedbackForm.email, 'email address') }}