Holliday Fenoglio Fowler, L.P. (HFF), on behalf of the owner, is pleased to present the opportunity for qualified investors to acquire Stone Rise, a 216-unit, value-add, multi-housing community for sale in affluent Chester County, Pennsylvania. Constructed in 2008, the unit interiors at Stone Rise contain original finishes, affording investors the unique opportunity to implement a luxury renovation program and achieve the associated rental premiums. The property has been institutionally owned and maintained since construction, free of deferred maintenance; setting the stage for an investor to capitalize on direct revenue-enhancing improvements.
Stone Rise’s 216 apartments are housed in eight buildings spread across 21 low-density acres in an irreplaceably picturesque country-side setting. The unit mix is a diverse blend of spacious one and two-bedroom apartment homes with open floorplans. The apartment property for sale offers a competitive amenity package highlighted by a resort-style pool, a contemporary 24-hour fitness center and a large dog park.
Stone Rise is centrally located at 900 Selwyn Place in Glenmoore, a community approximately 40 miles northwest of downtown Philadelphia and in the heart of Chester County, which is the wealthiest county in Pennsylvania. Chester County offers high-end single-family homes, luxury retail, award-winning restaurants and sought-after schools. Residents benefit from proximity to a several heavily-traveled thoroughfares, including the Pennsylvania Turnpike, Route 202, Route 30 and Route 422, affording direct and convenient access to various employment hubs such as Reading, King of Prussia, West Chester, Exton and Downingtown.
For more information on this multifamily property for sale or other commercial real estate listing in Philadelphia and the Mid-Atlantic, please contact Mark Thomson, Carl Fiebig or Francis Coyne in HFF’s Philadelphia office. To view HFF’s current real estate investment sales listings, please click here.