7310 Columbia Ave - Apartments FOR SALE


College Park, MD 20740- Old Town Hyattsville
$1,750,000 USD
202-536-3742
7310 Columbia Ave, College Park, MD for Sale
$1,750,000 USD
Apartments - FOR SALE
1/8
null | 7.29% Cap Rate

7310 Columbia Ave
College Park, MD 20740
Old Town Hyattsville


HIGHLIGHTS

  • A Ten Unit Building Featuring Recently Updated One-Bedroom (4) and Two-Bedroom Units (6)
  • Fully Occupied Units in a Low Vacancy Submarket. Immediate Cash Flow with a 7.29 Percent CAP Rate
  • Exceptional Transit Access with the College Park Metro Station Directly Across the Street and close proximity to 495 and Route 1
  • Located Minutes from the University of Maryland, Driving Consistent Rental Demand
  • Submarket Experiencing One of Its Largest Construction Cycles, with Institutional Anchors and Transit Accessibility Driving Tenant Absorption and Rent

OVERVIEW

Marcus & Millichap is pleased to represent the owner of 7310 Columbia Avenue & 4804 Calvert Road in College Park, Maryland. This ten unit comprised amongst two buildings on the same parcel offers a mix of four one-bedroom units, and six two-bedroom/one-bath units, with floor plans averaging approximately 600 and 800 square feet. The property is located just minutes from the University of Maryland, College Park which enrolls more than 42,000 students and employs 15,000 faculty and staff. The property offers a unique opportunity to purchase a recently updated ten unit apartment that is fully stabilized, has an attractive unit mix, and has immediate cash-flow. A buyer can acheive a 7.29 percent CAP Rate in this growing submarket. College Park and the surrounding areas have become a focal point for new development, particularly along Baltimore Avenue, attracting both university-driven renters and commuters to Washington, D.C. The property benefits from excellent transit connectivity, with the College Park Metro Station on the Green Line directly across the street. This property is also located to major regional roadways such as Interstate 495, U.S. Route 1, and Maryland Route 201 and 410. The long-term outlook for this submarket remains positive, as population growth in Prince George’s County continues to outpace much of the Washington, D.C. region. Additionally, infrastructure investments, such as the Purple Line light rail, will further enhance accessibility. As a result, College Park and its neighboring areas are expected to remain highly desirable for renters. The submarket is currently experiencing one of its largest construction cycles. The area's affordability, institutional anchors, and transit accessibility provide a strong foundation for future tenant absorption and sustained rent growth.

FOR SALE DETAILS

PRICE

$1,750,000 USD

PRICE/SF

$187 USD /SF

# OF UNITS

10

PRICE/UNIT

$175,000

CAP RATE

7.29%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Ten Unit Apartment

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1985

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.63 AC

LAND SF

27,473 SF

ZONING

R18

APN/PARCEL ID

21-2356087

ASK ABOUT THIS PROPERTY

Lorenzo WootenMarcus & MillichapMore Info
202-536-3742

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Lorenzo WootenMarcus & MillichapMore Info
202-536-3742

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