TM Associates Acquires 50-Unit Multifamily Property In Orwigsburg, PA For $120,000

The multifamily property located at 1 Applewood Circle in Orwigsburg, PA has been sold in a closed transaction. The property consists of 50 units with a sale price of $120,000, resulting in a price per unit of $2,400. The total square footage of the property is 37,500, with a price per square foot of $3.2. The transaction took place on the date of 12/23/2021.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $120,000
• Units: 50
• Price Per Unit: $2,400
• Square Footage: 37,500
• Price Per Square Foot: $3.2

In this transaction, the buyer was TM Associates, while the seller was Applewood LP. The broker Jonathan Massaro from SCOPE represented both the buyer and the seller. It is important to note that this property is a 515 RD facility, which resulted in X times management fee due to its nature.