Jacobus, Pa., June 15, 2022 – Scope Commercial Real Estate Services, LLC (“SCOPE”), a leading middle-market multifamily investment sales firm has announced the sale of Sycamore Run, a 16-unit garden-style multifamily community located in Jacobus, PA. The property sold for $3,900,000 which equates to $243,750 per unit.
Fahd Malik, director at SCOPE, had the exclusive listing to market the property on behalf of the seller, a York-based developer and procured the buyer, a New Jersey-based limited-liability company. At the time of the sale, the transaction represented a 5.50% capitalization rate with room for additional rental upside.
“The lack of supply in a high-demand rental market drew attention from several investors and presented a great opportunity to capitalize on the growing Central PA market,” Malik commented. York County is continuing to see record-setting rent growth due to affordability and proximity to employment driving demand.”
Sycamore Run is located at 17 S Main Street in Jacobus, just six miles south of York. The 16 units are comprised of two and three-bedroom layouts ranging in size from 910 to 1,265 square feet. The modern, new-construction community features private entrances, open-concept living, modern appliances, porches or balconies, and parking.
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SCOPE is the Philadelphia region's preeminent commercial real estate services firm. Privately held, SCOPE offers middle-market investment sales, debt & structured finance, and asset advisory services in the multifamily, mixed-use, and development asset classes. SCOPE empowers its agents through collaboration and technology. In effect, our clients benefit from the most current market intelligence available. This market intelligence coupled with decades of deal-making experience ensures maximum return on investment.