160-UNIT APARTMENT BUILDING SELLS FOR $13M IN PHILADELPHIA

PHILADELPHIA — Marcus & Millichap has arranged the $13 million sale of Beechwood Gardens, a 160-unit apartment property in northeast Philadelphia. The sale equates to $81,250 per unit. Clarke Talone, Ridge MacLaren and Andrew Townsend, investment specialists in Marcus & Millichap’s Philadelphia office, represented the seller, a New York-based limited liability company, and the buyer, a local limited liability company. Beechwood Gardens is located at 9805 Haldeman Ave. and is in close proximity to U.S. Route 1 and Interstate 95. Built in 1967 on 5.7 acres, Beechwood Gardens includes 80 one-bedroom units and 80 two-bedroom apartments. More than two-thirds of the units have been renovated.