Governor's Square - HUD Housing Portfolio

Highlights:

• Value add by bringing vacant units online
• Assumable HUD Financing Available
• Unit mix consists of:
• 1 Bedroom - 2
• 2 Bedroom - 114
• 3 Bedroom - 75
• 4 Bedroom - 28
• 5-Bedroom - 3
• Low income Housing Portfolio
• Portfolio sits less than a mile from the Susquehanna River

Description:

Bankruptcy Sale: US Bankruptcy Court for the Middle District of Pennsylvania (Harrisburg), Petition No: 1:23-bk-00988 | In re: Uptown Partners, LP
Bid Deadline: November 30
On-Site Inspections: October 26 and November 9 at 11 a.m. (ET), by appointment only

Located in Pennsylvania’s history-rich capital city of Harrisburg, The Residences at Governor’s Square has one-, two- and three-bedroom townhouse and garden-style apartments set in a residential neighborhood with views of the capital building. Governor’s Square is just blocks away from the Capital Area Greenbelt which is a 20-mile loop trail along the Susquehanna River.

These properties are just a short walk to the center of the capital where commerce, recreation, shopping, dining and entertainment are abundant. Nearby transportation services include the Harrisburg Bus Station, the Amtrak Station and Capital City Airport. Proximity and easy access to Interstates 81 and 83 make for an ideal commute to outlying counties for employment, travel and leisure.

This portfolio represents a significant opportunity to own 222 rental units spread between 27 buildings. These properties can increase an owners existing portfolio or quickly establish a new operator. These properties have a waiting list to occupy and with new ownership there is opportunity to add value by bringing vacant units back online to begin generating revenue.

Harrisburg, Pennsylvania offers a unique blend of history, culture and modern amenities. As the state capital, Harrisburg is steeped in history, with its charming streets lined with beautifully preserved architecture and landmarks that tell the story of the nation’s past. Residents have the privilege of exploring the State Capitol Building, a true architectural masterpiece, and indulging in the city’s many museums, including the National Civil War Museum and the Whitaker Center for Science and the Arts. Harrisburg’s cultural scene is alive with theaters, art galleries and live music venues that provide endless entertainment options.

Nature enthusiasts will find plenty to love about Harrisburg as well. The city boasts access to the picturesque Susquehanna River, where kayaking, fishing and scenic riverfront walks are popular pastimes. The Capital Area Greenbelt, a 20-mile loop trail that winds along the river, is a haven for cyclists, joggers and hikers, offering a serene escape from the hustle and bustle of city life. Additionally, Harrisburg’s parks and recreational facilities provide ample opportunities for outdoor activities, family outings and picnics. With its vibrant cultural scene and proximity to natural beauty, Harrisburg offers a well-rounded and fulfilling lifestyle for its residents.

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