Shalamar Gardens

Shalamar Gardens, located near State College, PA, presents a opportunity to acquire a partially stabilized residential asset with both immediate cash flow and near-term upside. The offering includes 28 units within a larger 57-unit completed community, consisting of 19 fully leased units generating $259,550in NOI and nine (9) currently vacant units that provide a clear path to increased income through lease-up. Located in Milroy, the asset benefits from direct access to the State College, PA economic base, anchored by Penn State University, Mount Nittany health, and a diverse mix of government, education, and private sector employers. This demand profile supports strong leasing activity and long-term occupancy stability. Further, the combination of in-place income and lease-up potential allows investors to enhance returns by stabilizing the remaining units in a proven and established community. In addition to the current offering, investors may pursue a sperate acquisition of Phase 2, fully approved for 80 additional units, providing long-term scalability. Shalamar Gardens offers a unique blend of day-one income and value-add upside in a resilient Central Pennsylvania market.