Sold: Littlestown Village, a 44-unit apartment complex, changes hands
A 44-unit apartment complex in Adams County recently changed hands for about $50,000 per unit, according to Wormleysburg-based NAI CIR, which handled the deal.
Littlestown Village in Littlestown was purchased by Seven Hills Littlestown LLC, a Chester County-based investor. The final sale price was not immediately available. But at $50,000 per unit, the full price would come to about $2.2 million.
The seller was 110 NJL LLC, which purchased the complex in early 2016 for $1.1 million, according to deed records.
Prior to that, the property was a distressed asset and had been taken over by a New York investment banking firm. It was managed and repositioned for sale by NAI CIR. Capital improvements were made, the occupancy improved and rental rates increased.
Nathan Kranz of NAI CIR represented both the buyer and seller in the transaction.