SALISBURY, PA & BERLIN, PA — Warner Real Estate & Auction Company, a leading New Jersey real estate and auction marketing firm recently sold two multi-family senior apartment buildings through an online auction.
Salisbury Manor, a 32-unit senior apartment building, located at 70 Grant St. in Salisbury, PA sold for $550,000 and Berlin Manor, a 34-unit senior apartment building, located at 100 Berlin Manor in Berlin sold for $605,000. The buyer purchased the properties as long-term investments to add to his extensive portfolio and plans to manage both buildings himself.
Rich Warner, president and founder of Warner Real Estate & Auction Company has successfully sold real estate throughout NJ and PA for the U.S. Department of Agriculture (USDA) since 2014. According to Warner, “both properties were sold out of a program with no deed restrictions which creates a golden opportunity for buyers to create significant value through charging market rents thereby increasing the NOI (Net Operating Income).