MLS#DENC2103146
STATUSACTIVE
PROPERTY TYPECommercial -
SCHOOLCHRISTINA
Property Description
118 New London Road offers a rarely available 5-unit student housing investment opportunity. Originally three separate detached 4-bedroom homes this property was rezoned and reimagined in 2021. The original three homes were renovated, and two additional 5-bedroom homes built in between to turn this into one property consisting of five row homes with high density garden apartment zoning. The property’s location is strategically located between UD’s main campus and the north campus. This location and the quality of construction have resulted in 100% occupancy since its inception with favorable annual rent increases. The current owners designed these units for today’s college students with trends towards individual bedrooms and multiple baths. Surrounded by other comparable student housing complexes adds to the demand for this area and type of unit. The University has shown strong student body demographics and continues to add many exciting capital projects and campus growth with the addition of the STAR campus and other buildings throughout its campus.
Property Features
Property Type: Commercial -
Basement: Yes
Cooling: Central A/C
Fuel Type: Natural Gas
Heating: Forced Air
Lot Size: 0.46 Acres
Roof Type: Architectural Shingle, Metal
Taxes: $15,758
Year Built: 2021
Feature Descriptions
Days on Site: 7
Exterior: Stone, Cement Siding
Flooring: Luxury Vinyl Plank, Carpet
Location: Urban
Lot Dimensions: 0.46 Acre(S)
Parking Notes: Paved Parking
Sewer: Public Sewer
Total Garage/Parking Spaces: 15
Water: Public
Local Schools
School District: CHRISTINA
Listed By / Shown By
Listed By
Agency Name: RE/MAX Edge
Agency Phone: 3024424200
Shown By
Agency Title: RealtyMark
Agency Phone: 888-260-0400
118 New London Road | MLS# DENC2103146
This commercial property located at 118 New London Road , Newark, DE 19711 is currently listed for sale with an asking price of $3,300,000. New London Road is located within the CHRISTINA school district. Search Newark real estate on www.realtymark.net today.