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About the Listing REMAXE1 - 3143399
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.
Listing Highlights
Status
Active
Days on Site
1
Property Type
Commercial Sale
MLS ®
DENC2103146
Year Built
2021
Total Square Footage
9,018
Lot/Acreage
0.46
Interior Details
- Bedrooms: 0
- Bathrooms: 0 Full
- Appliances:
- Air Cond: Central A/C
- Heating: Forced Air
- Fireplaces:
- Floor: Luxury Vinyl Plank,Carpet
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water: Public
Exterior Details
- Lot Description: Not New Construction,Horse Property: No,In City Limits
- Garage Capacity: N/A
- Parking Spaces: 15
- Zoning: City of Newark - High Density Garden Apartments
- Roof: Architectural Shingle,Metal
- Others:
- Sewer: Public Sewer
- Parking Features: Paved Parking,Parking Lot,4+ Spaces,3+ Spaces,2+ Spaces,1+ Spaces
Financial Details
- Tax Amount: $15,758
- Taxes w/Assessments: N/A
- Tax/Property ID: N/A
- Tax Year: 2025
Payment Calculator
Monthly Payment
- in Principal and Interest
- in Taxes
Years
% Down Payment
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Questions About..
118 New London Rd Newark, DE 19711
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