Real Estate Journal — Pennsylvania — October 11 - 24, 2019 — 13C
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For USDA totaling $1.155 million Warner sells twomulti-family senior apartment buildings
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ALISBURY , PA & BERLIN, PA — War- ner Real Estate &Auc- tion Company , a leading New Jersey real estate and auction marketing firm recently sold two multi-family senior apart- ment buildings through an online auction. Salisbury Manor, a 32-unit senior apartment building, located at 70 Grant St. in Salis- bury, 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 Es- tate & 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). S
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Salisbury Manor
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100 Berlin Manor
It was quite an exciting auction with 8 participating bidders from five different states (PA, NJ, NY, FL & MD) with 218 total bids for a record setting $1.155 Million Dollars.” Warner Real Estate and
Auction Company is a New Jersey and Pennsylvania li- censed real estate broker and auctioneer and specializes in land and farm sales, invest- ment properties, commercial and residential properties.
When it comes to getting deals done in today's fast-paced market, time is more important than ever. We think waiting 4-5 weeks for an appraisal is unconscionable
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