Cedar Crossing 2 Properties Offered at $12,350,000 in Salisbury, MD
INVESTMENT HIGHLIGHTS
- Walking distance to Salisbury University campus.
- High student population in the immediate area.
- Close to City Center, shopping and attractions.
EXECUTIVE SUMMARY
Rinnier Development is proud to offer the student housing portfolio of Cedar Crossing for sale. All units are walking distance to the Salisbury University campus and across the street from the football stadium and other sports fields. Current rental rates are lower than most competitors and there is space for amenities to be added. Attractive 4.98% Assumable Financing is in Place.
The portfolio consists of 58 individual units with 228 bedrooms that were all built new in 1999 - wood frame construction with vinyl siding, asphalt shingles, vinyl wood, carpet and vinyl tile flooring throughout. Kitchens are complete with refrigerator, dishwasher and stove; laminate and cultured marble tops in kitchens and bathrooms. All units have washers and dryers.
Addresses include: (units listed in the 'portfolio properties' are only 2 of the 58 total, see below for addresses:)
101-207 Cedar Crossing Rd.
115-131 Onley Rd.
1145 S. Division St.
1499-1503 May Drive
1507 Tulip Drive
1401-1416 Varsity Lane
205-209 Honeysuckle Drive
251 Canal Park Dr.
408 Yorkshire Court
426 South Boulevard
306 Hazel Avenue
207, 319 & 323 East College Avenue
Please call for more information and to schedule a showing.
The portfolio consists of 58 individual units with 228 bedrooms that were all built new in 1999 - wood frame construction with vinyl siding, asphalt shingles, vinyl wood, carpet and vinyl tile flooring throughout. Kitchens are complete with refrigerator, dishwasher and stove; laminate and cultured marble tops in kitchens and bathrooms. All units have washers and dryers.
Addresses include: (units listed in the 'portfolio properties' are only 2 of the 58 total, see below for addresses:)
101-207 Cedar Crossing Rd.
115-131 Onley Rd.
1145 S. Division St.
1499-1503 May Drive
1507 Tulip Drive
1401-1416 Varsity Lane
205-209 Honeysuckle Drive
251 Canal Park Dr.
408 Yorkshire Court
426 South Boulevard
306 Hazel Avenue
207, 319 & 323 East College Avenue
Please call for more information and to schedule a showing.
PROPERTY FACTS
| Price | $12,350,000 |
| Price / SF | $4,117 / SF |
| Cap Rate | 5.80% |
| Sale Type | Investment or Owner User |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 3,000 SF |
| Total Land Area | 0.16 AC |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
|---|---|---|---|---|
| 101 Cedar Xing, Salisbury, MD 21804 | 1,500 SF | 1999 | - | |
| 105 Cedar Xing, Salisbury, MD 21804 | Multifamily | 1,500 SF | 1999 | - |
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