PA’s Picks – Join Us in Some Apartment Hunting
August 27th, 2011 by melissaWith rentals finding prominence in the real estate market, we’re looking at some apartment building auctions with promising investment potential.
Check out RealtyBid’s 64-unit apartment complex in Hartsville, South Carolina. Spread out over 7 acres and comprised of 8 separate buildings, this complex also provides an 800SF storage building. We like this pick for its propitious ROI – while the property does need renovations, the Potential Gross Income is projected at over 140K annually. This listing is also strategically located in an area that has a high demand for this type of apartment unit. The online auction is currently live and accepting bids until September 8th.http://www.realtybid.com/
We also noticed the Pemberton Manor Apartment complex in Salisbury, Maryland. Being offered by HUD, PA is picking this one for its sheer volume of inventory: with 29 one-bedroom, 118 two-bedroom, and 62 three bedroom units, you’ll get a lot of bang for your buck on this property. Auction date is September 22nd.
http://portal.hud.gov/hudportal/HUD?src=/program_offices/housing/mfh/pd/pemb
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