Cedar Crossing
Well Located Multi-Family Asset with Attractive 4.93% Assumable Debt in Place
Marketing description
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.
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:
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.
Investment highlights
· all units walking distance to Salisbury University campus
· high density of college students in the neighborhood
· established student housing rental business ready for new ownership
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