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NorthPark Gardens 304 Glen Ave 52 Unit Apartment Building $6,450,000 ($124,038/Unit) Salisbury, MD 21804
INVESTMENT HIGHLIGHTS
- 52-unit apartment community with strong rent roll
- Fiber internet installed throughout the property
- Ample land for future expansion opportunities
- 18 units recently remodeled for modern appeal
- City water and sewer without city tax burden
- Centrally located near retail and employment centers
EXECUTIVE SUMMARY
52 apartments with 18 having been recently remodeled. This centrally located complex boasts brick exterior, stable rent roll, ample land for expansion. These apartments are still under current market rates giving plenty of upside for a buyer. This property has city water and sewer without having city taxes. Fiber internet is run throughout the property and several of the flat roofs have been recently replaced within the past 2 years.
PROPERTY FACTS Under Contract
| Price | $6,450,000 | Building Class | C |
| Price Per Unit | $124,038 | Lot Size | 4.54 AC |
| Sale Type | Investment | Building Size | 46,767 SF |
| No. Units | 52 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1953/2023 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | M | ||
| Price | $6,450,000 |
| Price Per Unit | $124,038 |
| Sale Type | Investment |
| No. Units | 52 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 4.54 AC |
| Building Size | 46,767 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1953/2023 |
| Opportunity Zone |
Yes |
| Zoning | M |
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PROPERTY TAXES
| Parcel Number | 05-062535 | Improvements Assessment | $3,640,300 |
| Land Assessment | $454,000 | Total Assessment | $4,094,300 |
PROPERTY TAXES
Parcel Number
05-062535
Land Assessment
$454,000
Improvements Assessment
$3,640,300
Total Assessment
$4,094,300
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NorthPark Gardens | 304 Glen Ave
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