118 NEW LONDON RD, Newark, DE 19711
118 NEW LONDON RD, Newark, DE 19711
118 NEW LONDON RD, Newark, DE 19711
118 NEW LONDON RD, Newark, DE 19711
118 NEW LONDON RD, Newark, DE 19711
118 NEW LONDON RD, Newark, DE 19711
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Bobby Carter

Bobby Carter

+1(302) 747-0117
Listed by Kyle Mayhew • RE/MAX Edge
$ 3,300,000
Est. payment | /mo

0.46 Acres Lot

Save
$ 3,300,000
Est. payment | /mo
Save

0.46 Acres Lot

Key Details

Property Type Commercial

Sub Type Five Or More Units

Listing Status Active

Purchase Type For Sale

MLS Listing ID DENC2103146

Year Built 2021

Annual Tax Amount $15,758

Tax Year 2025

Lot Size 0.460 Acres

Acres 0.46

Property Sub-Type Five Or More Units

Source BRIGHT

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.

Location

State DE

County New Castle

Area Newark/Glasgow (30905)

Zoning 18RM

Interior

Hot Water Electric

Heating Forced Air

Cooling Central A/C

Flooring Luxury Vinyl Plank, Carpet

Inclusions Washer, Dryer and Refrigerator in each unit.

Heat Source Natural Gas

Exterior

Garage Spaces 15.0

Water Access N

Roof Type Architectural Shingle,Metal

Accessibility None

Total Parking Spaces 15

Garage N

Building

Foundation Concrete Perimeter

Sewer Public Sewer

Water Public

New Construction N

Schools

School District Christina

Others

Tax ID 18-013.00-123

Ownership Fee Simple

Security Features Sprinkler System - Indoor

Special Listing Condition Standard

Bright MLS (BMLS)

NEARBY SCHOOLS & PROPERTIES

Bobby Carter

+1(302) 747-0117

bobby@cartergroupchre.com

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118 NEW LONDON RD