260-262 Mast Rd - Apartments FOR SALE


Durham, NH 03824
$11,100,000 USD
603-781-6546
260-262 Mast Rd, Durham, NH for Sale
$11,100,000 USD
Apartments - FOR SALE
1/5
null | Request Cap Rate

260-262 Mast Rd
Durham, NH 03824


HIGHLIGHTS

  • 3 buildings in total (two at 260 Mast Road and one at 262 Mast Road)
  • 42 units total (40 units at 260 Mast Road and 2 units at 262 Mast Road)
  • 113 beds total (both buildings combined)
  • 70 parking spaces total (both buildings combined)
  • On-site laundry
  • 3.32± total acres

OVERVIEW

260 & 262 Mast Road offers a well-diversified unit mix ranging from studios to four-bedroom apartments, appealing to the broad spectrum of housing preferences within the University of New Hampshire student market. The property features onsite laundry facilities and ample onsite parking, with parking available to tenants for an additional fee. The asset has a proven track record of exceptional operating performance, consistently maintaining near-100% occupancy, strong pre-leasing activity, and average annual rent growth of approximately 2.4% over the past six years. These strong fundamentals position the property to continue benefiting from the sustained demand for off-campus student housing. The offering includes both 260 and 262 Mast Road, comprising a total of 42 apartment units and 113 beds. Leases are structured with tenants responsible for their individual electric service, while all other operating expenses are included in the rent. WiFi is also included except for two units. The property is being offered at a 7.8% capitalization rate based on the forecasted NOI, presenting investors with an opportunity to acquire a stabilized, high-performing student housing asset in a proven rental market.

FOR SALE DETAILS

PRICE

$11,100,000 USD

PRICE/SF

$275 USD /SF

# OF UNITS

42

PRICE/UNIT

$264,286

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

42 Units - Student Housing

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

2010

PARKING SPACES

70

LAND DETAILS

LAND ACRES

3.32 AC

LAND SF

144,619 SF

ZONING

MUDOR

APN/PARCEL ID

DRHM-000013-000002

ASK ABOUT THIS PROPERTY

Kent WhiteThe Boulos CompanyMore Info
603-781-6546

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.

Kent WhiteThe Boulos CompanyMore Info
603-781-6546

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.