Delaware

Property Type: Multifamily
Size: 16 Townhouses
Price: $2,960,000
CAP: 5.85%

Highlights:

  • 16 Townhouses Located in New Castle, Bear, and Newark, DE
  • Townhouses are in Strong Locations Near Major Roadways and Shopping
  • Great Unit Mix Features Eleven 3 Bed/1.5 Bath Units, and Five 3 Bed/2.5 Bath Units
  • Tenants Responsible for Water, Sewer, Electric and Gas
  • Steady Demand with Significant Rental Upside
  • Value Add Opportunity

Description:

Marcus & Millichap is pleased to present for sale the BPM Townhome Portfolio – A portfolio of 16 townhouses located in the cities of New Castle, Bear, and Newark, DE. The units are all located within townhouse communities, in five separate groupings. Several of the units are contiguous.

  • 7 Units located on Brian Court in New Castle
  • 3 Units located on Auckland Drive in Newark
  • 2 Units located on Blackbird Drive in Bear
  • 2 Units located on Blyth Court in New Castle
  • 2 Units located on Ashley Drive in New Castle

The unit mix is comprised of eleven 3 bedroom/1.5 bath townhouses, and five 3 bedroom/2.5 bath townhouses. Units feature a fireplace, garage, and basement. Tenants are responsible for water, sewer, electric, and gas. Overall, the units are in excellent locations near major roadways, employment, and shopping. With steady demand and current average rent per square foot at $0.91, this portfolio has significant rental upside. Value add opportunity through unit upgrades and subsequent rental increases.


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