139 S. State Road

This is a 12-unit apartment complex consisting of (7) one-bedroom and (5) two-bedroom units. The units boast large picture windows in every room providing serene views of the well-maintained courtyard and landscaped grounds. Each apartment has a spacious living room, a kitchen and separate dining room, a ceramic tub/shower bath, and a walk-in closet. Further, a coin-operated laundry system and (16) off-street parking spaces are on-site for the convenience of its residents.

Currently, the property is 83% occupied due to renovations taking place and has run historically at 94% occupancy or better. Properties in the immediate area historically have been running at 95% or better, providing a strong and stable tenant base year after year. The Upper Darby rental market has always been strong given the demand for workforce housing. In addition, there are high barriers to entry as there is no available land for new apartment properties to be built, adding to the increased demand in the area from renters. Thus, making this an excellent long-term hold for potential buyers.

The State Road property is less than a mile from SEPTA’s 69th Street Transportation Center for the Norristown High-Speed Line, Route 101 and 102 Lines, the Market-Frankford Subway Line, and numerous bus routes. This location affords residents easy access to shops and restaurants in the suburbs of Upper Darby and an easy trip to Center City Philadelphia.

The property is located in highly sought-after Delaware County, Pennsylvania, and is convenient to the area’s major arteries including Route 3 (West Chester Pike), Route 30 (Lancaster Avenue), Route 1 (City Avenue), Baltimore Pike (Route 13), and I-476 (the Blue Route) providing residents entry to Philadelphia and its surrounding suburbs. For daily commuters, these roadways provide access to some of the top employers in the immediate area such as Mercy Catholic Medical Center (Trinity Health System), SAP America, Boeing, Harrah’s Casino, Riddle Hospital (Main Line Health), and Delaware County Memorial Hospital (Crozer Health) among others.  

139 S. State Road is an excellent value-add opportunity for a new buyer. A new owner could complete minor upgrades to kitchens and baths that have not been done already and increase rents to competitive market rates. 139 S. State Road offers potential buyers an excellent long-term hold in highly sought-after Delaware County, Pennsylvania.