Student Housing
For Sale
Contact for pricing
114 Bowery Street, Frostburg, MD 21532
Turn-key 59-unit student housing portfolio with pre-leased revenue serving Frostburg State University.
Days on Market64
Property Features for 114 Bowery Street
General Information
Standard status
Active
Property subtype
Multifamily
Additional Details
Business Included
Yes
Multifamily Units
59
Building Details
Tenancy
Multi
Listing Agency:
Tranzon Key
Listed By:
Jeffrey Stein · License #MD 5422
Source:
Crexi
Added: May 29
Changed: Jul 10
Last Checked: Jul 30 at 12:54PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Tranzon Key
Investment Insights
Based on property information with market context.
This premier student housing portfolio includes 43 properties totaling 59 units, offered as a turn-key acquisition opportunity. The portfolio is presented as stabilized, with gross income of $448,850 for the 2025 calendar year cited in the offering materials. A 2022 appraisal is listed at $4,564,800, with subsequent market estimates and valuations referenced at $5,863,600 for 2026.
The portfolio is located in Frostburg, Maryland, directly serving Frostburg State University. The properties are described as a concentrated cluster within convenient walking distance of the campus, including the student centers and local downtown amenities noted in the remarks.
For investors, the portfolio’s most practical attribute is that it is designed around an existing, location-driven tenant pipeline. The remarks state that pre-leased revenue has been secured, with numerous student leases already signed and executed for the upcoming 2026/2027 academic year. That structure may appeal to institutional buyers, private equity groups, or syndicators seeking a university submarket asset with secured near-term occupancy. A comprehensive Offering Memorandum (OM) is available upon execution of a Confidentiality Agreement, with detailed property addresses, unit mixes, historical expense sheets, and 2026/2027 lease agreements included.
The portfolio is located in Frostburg, Maryland, directly serving Frostburg State University. The properties are described as a concentrated cluster within convenient walking distance of the campus, including the student centers and local downtown amenities noted in the remarks.
For investors, the portfolio’s most practical attribute is that it is designed around an existing, location-driven tenant pipeline. The remarks state that pre-leased revenue has been secured, with numerous student leases already signed and executed for the upcoming 2026/2027 academic year. That structure may appeal to institutional buyers, private equity groups, or syndicators seeking a university submarket asset with secured near-term occupancy. A comprehensive Offering Memorandum (OM) is available upon execution of a Confidentiality Agreement, with detailed property addresses, unit mixes, historical expense sheets, and 2026/2027 lease agreements included.
Key Highlights
- 43‑property (59‑unit) student housing portfolio in Frostburg, MD serving Frostburg State University (FSU).
- 2025 gross income: $448,850 (reported as 2025 calendar‑year actual).
- Appraised at $4,564,800 in 2022; market estimate valuation of $5,863,600 (2026).
Property Analytics
Property Profile
Current Use
Lease Details
59
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
523
Businesses Nearby
Explore this area
Business Placement
Demographics for 21532, MD
13,328
Population
6,044
Households
2.2
Avg Household Size
39
Median Age
33%
College-Educated
93%
High-School Grad
74.1 sq mi
ZIP Area
180
Density / Sq Mi
$60,158
Median Household Income
$33,054
Median Earnings
$839
Median Rent
$175,600
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - Turn-key 59-unit student housing portfolio with pre-leased revenue serving Frostburg State University.
Where is this apartment building located?
The property is located at 114 Bowery Street Frostburg, MD.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: 43‑property (59‑unit) student housing portfolio in Frostburg, MD serving Frostburg State University (FSU).; 2025 gross income: $448,850 (reported as 2025 calendar‑year actual).; Appraised at $4,564,800 in 2022; market estimate valuation of $5,863,600 (2026).
