A sizable Montco apartment community in Eagleville is hitting the market, writes Paul Schwedelson for The Philadelphia Business Journal.
Riverview Landing at Valley Forge, a 310-unit property, has been listed for sale as a value-add opportunity. The 21-year-old complex sits just north of the Schuylkill River and minutes from King of Prussia, placing it close to major highways and one of the region’s largest employment centers.
The property is owned by Liss Property Group and was originally developed by MLP Ventures. According to CBRE, Riverview Landing is 89% occupied, with average in-place rents of about $2,066 per unit, or $1.91 per square foot — the lowest among comparable nearby properties.
While 168 units have already been renovated, nearly half remain primed for upgrades such as new cabinetry, flooring and lighting, creating room for rent growth. Nearby communities, including Arrive Valley Forge, command $200 to $300 more per month.
The amenity-rich complex features river views, a pool and sundeck, grilling areas, a 5,000-square-foot clubhouse, fitness center and coworking space. It is also within minutes of the King of Prussia Mall. With interest rates easing and investor activity rebounding, brokers say the property could fetch around $90 million.
To learn more about the listing and market conditions, visit The Philadelphia Business Journal.
