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260 & 260 Mast Road - Student Housing 260-262 Mast Rd 40 Unit Apartment Building $11,100,000 ($277,500/Unit) Durham, NH 03824
Investment Highlights
- 3 buildings in total (two at 260 Mast Road and one at 262 Mast Road)
- 113 beds total (both buildings combined)
- On-site laundry
- 42 units total (40 units at 260 Mast Road and 2 units at 262 Mast Road)
- 70 parking spaces total (both buildings combined)
- 3.32± total acres
Executive Summary
260 & 262 Mast Road are part of a student housing portfolio consisting of three distinct student-housing investment opportunities. Each property is available individually or as part of the portfolio. Each property features a diverse unit mix, ranging from studios to four-bedroom apartments, meeting the wide variety of preferences within the UNH student housing market. Whether students are seeking a convenient location within walking distance of campus or a quieter setting away from downtown activity, the Properties offer strong appeal. All properties provide onsite parking (available for an additional fee) and onsite laundry. With a long track record of near-100% occupancy, consistent pre-leasing, and average rent growth of approximately 2.4% annually over the past six years, the Properties are well-positioned to continue serving UNH students for years to come.
Please note that this property record reflects 260 Mast Road only. However, the offering includes both 260 and 262 Mast Road. 262 Mast Road consists of approximately 2,705± SF, includes 2 units, and has a total of 7 bedrooms.
Please note that this property record reflects 260 Mast Road only. However, the offering includes both 260 and 262 Mast Road. 262 Mast Road consists of approximately 2,705± SF, includes 2 units, and has a total of 7 bedrooms.
Property Facts
| Price | $11,100,000 | Lot Size | 3.32 AC |
| Price Per Unit | $277,500 | Building Size | 40,414 SF |
| Sale Type | Investment | Average Occupancy | 100% |
| No. Units | 40 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 2010 |
| Property Subtype | Apartment | Parking Ratio | 1.75/1,000 SF |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Building Class | C | ||
| Zoning | MUDOR - Mixed Use, Office and Research District | ||
| Price | $11,100,000 |
| Price Per Unit | $277,500 |
| Sale Type | Investment |
| No. Units | 40 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 3.32 AC |
| Building Size | 40,414 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 2010 |
| Parking Ratio | 1.75/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | MUDOR - Mixed Use, Office and Research District |
Amenities
Unit Amenities
- Dishwasher
- Microwave
- Storage Space
- Kitchen
- Refrigerator
Site Amenities
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Tenant Controlled HVAC
- Smoke Free
- Community-Wide WiFi
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 10 | - | 250 |
| 1+1 | 10 | - | 400 |
| 2+1 | 10 | - | 500 |
| 3+1 | 5 | - | 800 |
| 4+2 | 5 | - | 1,000 |
Property Taxes
| Parcel Number | DRHM-000013-000002 | Improvements Assessment | $352,600 |
| Land Assessment | $177,600 | Total Assessment | $530,200 |
Property Taxes
Parcel Number
DRHM-000013-000002
Land Assessment
$177,600
Improvements Assessment
$352,600
Total Assessment
$530,200
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260 & 260 Mast Road - Student Housing | 260-262 Mast Rd
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