Wednesday, September 9, 2015

Haynes Run Apartments in NJ Sells

by Steve Lubetkin,
The Haynes Run Apartments, a 148-unit apartment complex in Medford, NJ, sold to an unidentified buyer for an undisclosed price.

“The long-term owner took advantage of the current strong demand among investors for multifamily real estate. The local market lacked available properties of this caliber.  Properties of this construction, condition and size are rarely available in southern Burlington County. The buyer plans to improve the property through upgrades including new roofs, siding, landscaping, parking lots and a children’s recreational center. Apartments will also receive new fixtures and finishes.”  

Haynes Run Apartments consists of a combination of one- and two-bedroom apartments situated on 22 acres. Each apartment has an individual entrance with central air conditioning, individual gas heater, rear door or patio door leading to a private patio or balcony, and full-size washers and dryers.

The property is about /20 miles from Philadelphia near the New Jersey Turnpike, I-295, Route 70, Route 73 and Route 206. The location also provides residents with access to golf courses, parks, and other recreation areas.

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