Yorkshire Apartment Homes 11401 July Dr 326 Unit Apartment Building For Sale Silver Spring, MD 20904
INVESTMENT HIGHLIGHTS
- Convenient access to DC Metro area through Route 29, I-495, I-95, and I-270 via Route 200 (ICC)
- Value-Add Potential in Silver Spring, Maryland
- Adjacent to the US Food and Drug Administration Headquarters with convenient accessibility to the Walter Reed Medical Hospital and NIH
- Compelling in-place yield, 3.4% lease trade-outs over trailing six months, and 99.7% mission-driven affordability (80% AMI)
- Montgomery County “A” school system rating, $146K average household income, $588K average home value, and 3% unemployment rate
- Attractive In-Place Financing Limits Interest Rate Volatility Concerns
EXECUTIVE SUMMARY
1990 vintage property located in Silver Spring, Maryland. Yorkshire Apartments features a unit mix comprised of 75% two and three-bedroom units, 100% of units have in-unit washer and dryers, and nearly every two and three-bedroom floorplan offers two full bathrooms. This investment opportunity is highlighted by the Property’s continued strong performance and outsized future rent growth projections.
PROPERTY FACTS
| Sale Type | Investment |
| No. Units | 326 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 17.44 AC |
| Building Size | 341,238 SF |
| Average Occupancy | 90% |
| No. Stories | 3 |
| Year Built/Renovated | 1990/2021 |
| Parking Ratio | 3.95/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R-20 - Single residential district |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Dishwasher
- Kitchen
- Refrigerator
- Tub/Shower
- Carpet
SITE AMENITIES
- Fitness Center
- Laundry Facilities
- Picnic Area
- Playground
- Property Manager on Site
- Tennis Court
- Grill
- Package Service
- Maintenance on site
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 56 | - | 895 - 950 |
| 2+1 | 14 | - | 921 |
| 2+2 | 211 | - | 895 - 1,376 |
| 3+2 | 44 | - | 1,225 |
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PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $0 | |
| Land Assessment | $0 | Total Assessment | $67,208,000 |
