7.5 ACRES LAND, APPROVALS PENDING, 71 NEW APARTMENTS!! APARTMENT GROUND, SUBURBS OF PHILADELPHIA, PA!! Start Price - Current Price - Time Left - Bid Count 0 Buy It Now Price - Reserve Price - Start Time Monday, April 28, 2008 End Time Wednesday, May 28, 2008 Location Morgantown, Pennsylvania See more about '7.5 ACRES LAND, APPROVALS PENDING, 71 NEW APARTMENTS!!' Description THIS PIECE OF GROUND IS LOCATED ON THE CORNER OF MAIN STREET( RT 23) AND MORGAN WAY IN A FAST GROWING SUBURB OF PHILADELPHIA, PENNSYLVANIA CALLED MORGANTOWN WHICH IS LOCATED ON THE PENNSYLVANIA TURNPIKE, RT 76, AT EXIT 302, LESS THAN A 1/4 MILE FROM A BRAND NEW WALMART AND LOWES. THESE BIG BOYS HAVE DONE THIER HOMEWORK FOR THIS HOT AREA! THIS PROJECT IS A BUILDER/ INVESTOR DREAM!!! THE HARD PART, WATER AND SEWER ARE ALREADY ON SITE WITH LETTERS OF SERVICEABILITY FOR OUR 71 NEW UNITS! THIS PROJECT IS ABOUT 2 MINUTES FROM THE TURNPIKE ENTRANCE WHICH MAKES TRAVEL TO EXTON, KING OF PRUSSIA OR MANY OTHER LOCATIONS QUICK. THE FAMOUS LANCASTER COUNTY TOURISM AND AMISH COMMUNITIES ARE ALSO MINUTES AWAY. THE DEMOGRAPHIC IS PERFECT FOR SENIORS, EMPTY NESTERS AND YOUNG PROFESSIONALS. AS YOU CAN SEE BY THE PICTURES, OUR TURNPIKE EXPOSURE IS GREAT FOR SIGNAGE AND RENTAL ADVERTISEMENT FOR THE PROJECT. WE HAVE DESIGNED THE COMMUNITY ON ABOUT 4 ACRES AND LEFT ABOUT 3.5 ACRES OF NICE OPEN SPACE WITH THE STREAM AND MEADOW! THIS ALSO KEEPS THE COST OF IMPROVEMENTS LOW WITHOUT BEING SPREAD OUT. THE APPROVAL PROCESS IS WELL UNDERWAY WITH SPECIAL EXCEPTION APPROVAL ALREADY OBTAINED FOR 71 UNITS! FINAL APPROVAL IS EXPECTED 3RD QUARTER THIS YEAR! THE UNIT BREAKDOWN IS 2 BUILDINGS WITH 24 UNITS AND THE THIRD BUILDING WITH 23 UNITS. WE EXPECT TO HAVE 55 TWO BEDROOM UNITS AND 16 ONE BEDROOM UNITS IN A THREE STORY GARDEN STYLE TYPICAL BUILDING. RENTAL INCOME PROJECTIONS ARE $ 1200 -$ 1300 FOR THE TWO BEDROOM AND $ 900 -$ 1100 FOR THE ONE BEDROOM. ARCHITECTURAL DRAWINGS WOULD BE THE RESPONSIBILITY OF THE BUYER. TOTAL SITEWORK COSTS ARE AROUND $ 800K. SEWER AND WATER CONNECTIONS ARE $ 3800 AND $ 1800 RESPECTIVELY. APARTMENT GROUND LIKE THIS IS A HARD COMMODITY TO FIND, ESPECIALLY IN THIS HOT LOCATION. WHETHER  YOU ARE AN INVESTOR OR BUILDER, DON'T MISS THIS OPPORTUNITY TO CAPITALIZE ON THIS NEARLY APPROVED, UNIMPROVED PROJECT!! IF YOU NEED A 1031 EXCHANGE FOR A LIKE SALE, THIS IS YOUR OPPORTUNITY! OFFERED AT $ 1,999,900.00 PLEASE CALL KEITH WITH QUESTIONS @ 610-637-6261.   Place a Bid!