Google Plus Facebook LinkedIn Twitter Vimeo RSS

Sold: Littlestown Village, a 44-unit apartment complex, changes hands

By ,
Littlestown Village
Littlestown Village - (Photo / )

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.

More From This Industry

Jason Scott

Jason Scott

Jason Scott covers state government, real estate and construction, media and marketing, and Dauphin County. Have a tip or question for him? Email him at jscott@cpbj.com. Follow him on Twitter, @JScottJournal. Circle Jason Scott on .

Leave a Comment

test

Please note: All comments will be reviewed and may take up to 24 hours to appear on the site.

Post Comment
View Comment Policy

Comments

close