Photo courtesy of Chozick Realty.

An 18-unit apartment property in Chaplin has traded for $1 million.

The Mountain Laurel Apartments, a four-building, garden-style, 11.5-acre property, is located just off of Route 6, giving it access to area job centers and retail.

Jordan Pinto of the investment brokerage Chozick Realty represented the seller, Mt Laurel A, B, C, D Associates, and assisted in procuring the buyer. The sales price was equivalent to $55,556 per unit.

All units are two bedrooms; 14 of which are townhouses. The property has historically maintained very high occupancy in an area with limited options for apartment living, Pinto said in a statement, adding that with limited housing and high barriers to entry, there is potential rental upside through cosmetic unit upgrades