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University of Delaware Student Rentals 8 Multifamily Properties Offered at $4,555,000 in Newark, DE
Investment Highlights
- Located in the heart of Newark, Delaware.
- One of the region’s premier public universities with enrollment exceeding 23,000 students.
- Main Street dining and retail amenities, public transportation, and major regional thoroughfares including I-95.
- The portfolio benefits from immediate proximity to the University of Delaware
- The properties are situated within Newark’s established student housing corridor, offering convenient access to campus
Executive Summary
Zommick McMahon Commercial Real Estate is pleased to present this exclusive offering of eight (8) single-family student rental residences located in Newark, Delaware, in close proximity to the University of Delaware campus. This portfolio represents a rare opportunity to acquire a turnkey, income-producing student housing portfolio in one of the Mid-Atlantic region’s most stable university markets. The properties are being offered as a single portfolio. All properties are currently occupied with zero vacancy, generating strong in-place cash flow at a 5.83% capitalization rate.
Taxes & Operating Expenses (Actual - 2025) |
Annual |
|---|---|
| Gross Rental Income |
$355,300
|
| Other Income |
-
|
| Vacancy Loss |
-
|
| Effective Gross Income |
$355,300
|
| Taxes |
-
|
| Operating Expenses |
-
|
| Total Expenses |
$89,756
|
| Net Operating Income |
$265,544
|
Taxes & Operating Expenses (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $355,300 |
| Other Income | |
|---|---|
| Annual | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Effective Gross Income | |
|---|---|
| Annual | $355,300 |
| Taxes | |
|---|---|
| Annual | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Total Expenses | |
|---|---|
| Annual | $89,756 |
| Net Operating Income | |
|---|---|
| Annual | $265,544 |
Property Facts
| Price | $4,555,000 | Status | Active |
| Price / SF | $397.05 / SF | Number of Properties | 8 |
| Sale Condition | Bulk/Portfolio Sale | Individually For Sale | 0 |
| Cap Rate | 5.83% | Total Building Size | 11,472 SF |
| Sale Type | Investment | Total Land Area | 1.94 AC |
| Price | $4,555,000 |
| Price / SF | $397.05 / SF |
| Sale Condition | Bulk/Portfolio Sale |
| Cap Rate | 5.83% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 8 |
| Individually For Sale | 0 |
| Total Building Size | 11,472 SF |
| Total Land Area | 1.94 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 236 W Main St, Newark, DE 19711 | Multifamily | 3,675 SF | 1939 | - |
| 68 Ray St, Newark, DE 19711 | Multifamily | 1,346 SF | 1963 | - |
| 5 Terry Ln, Newark, DE 19711 | Multifamily | 1,176 SF | 1955 | - |
| 64 Kennard Dr, Newark, DE 19711 | Multifamily | 1,175 SF | 1955 | - |
| 67 Kennard Dr, Newark, DE 19711 | Multifamily | 1,175 SF | 1955 | - |
| 240 W Main St, Newark, DE 19711 | Multifamily | 1,125 SF | 1900 | - |
| 61 Kennard Dr, Newark, DE 19711 | Multifamily | 900 SF | 1955 | - |
| 69 Kennard Dr, Newark, DE 19711 | Multifamily | 900 SF | 1955 | - |
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