S.V.P. Matt Wolf Arranges Exclusive Sale of 31 Residential Units & 47 Storage Units in Perry County
Woodbridge, N.J., May 2, 2023 – The Kislak Company, Inc. announced the recent sale of Arbor Manor Apartments and Storage at 158 Old Trail Road in Duncannon, Perry County, Pennsylvania, for $2,950,000.
Kislak marketed the property on an exclusive basis with senior vice president managing the assignment, and he also procured the purchaser. The parties were not disclosed.
The property, known as Arbor Manor Apartments and Storage, was built in 1980 and consists of 31 residential units, and 47 storage units on 5.5 acres of land. The two-story, brick, garden apartment style buildings contain all two-bedroom, 1.5 bathroom townhomes with amenities such as in-unit washer/dryers, recently renovated vinyl plank flooring, ceiling fans, and onsite and covered parking.
Mr. Wolf commented, “This was an excellent opportunity for the purchaser to expand his footprint in the area with quality townhouse units only a short distance from Harrisburg.”
Current below market rents at the property offer affordable living and yet provide a value add opportunity for the purchaser to renovate units and increase rents in the future.
Adjacent to the Appalachian Trail which passes through several of Duncannon’s streets, the property is located along the Susquehanna River off Route 11 and is part of one of the fastest growing areas in the Harrisburg-Carlisle metropolitan region. An easy commute to many major employment hubs, the townhouses are within a 20 minute drive to I-81 and Route 78 and only 30 minutes from downtown Harrisburg.
Duncannon, a part of the Kittatinny Ridge Flyway Global Important Bird Area (IBA), is well-known by hikers, river enthusiasts and visitors for its views from Hawk Rock, one of many rock outcroppings along the long mountain ridge from Pennsylvania to Maryland where many migrating species of birds can be observed.
Matt Wolf joined Kislak in 2017 following over a decade of success in the commercial real estate industry focused on multifamily and other investment sales transactions in central and eastern Pennsylvania. In 2020, he earned the firm’s Jay I. Kislak Producer of the Year award after selling over 1,100 residential units valued at nearly $100 million and in 2022, he earned the firm’s Sima Kislak Jelin Salesperson of the Year award. Mr. Wolf is a Certified Commercial Investment Member and also holds a Pennsylvania real estate broker’s license. He was promoted to a senior vice president in 2022.
About The Kislak Company, Inc.
The Kislak Company, Inc., which is headquartered in Woodbridge, New Jersey, is a leading commercial real estate brokerage firm consistently recognized for its investment sales success. Established in 1906, Kislak’s market leadership position and longevity are due to its ability to offer clients a personalized, hands-on approach, coupled with the unrivaled expertise of its long-tenured team of professionals. Kislak’s prestigious client base includes individual investors and owners, partnerships, financial institutions, and REITs. The firm’s thirty-five professionals provide comprehensive market coverage throughout New Jersey, New York, Pennsylvania, Delaware and Florida.
Now in its 117th year, Kislak was among a select group of firms recognized as a 2022 Power Broker by CoStar Group, Inc. and this was the firm’s 16th consecutive recognition. For the second consecutive year, Kislak was named by NJBIZ as one of its Leaders in Real Estate, Construction and Design in New Jersey.