Student Housing Investment
For Sale
$3,300,000
118 NEW LONDON Rd, Newark, DE 19711
Five-unit student housing near University of Delaware campus.
Property SizeContact for details
Days on Market109
Property Features for 118 NEW LONDON Rd
General Information
Standard status
Active
Property subtype
Commercial
Building Details
Year Built
2021
Listing Agency:
RE/MAX Edge
Listed By:
Kyle Mayhew · License #R3-0013118
(302) 750-4555
Source:
Elliman
Added: May 18
Changed: Jul 10
Last Checked: Aug 28 at 1:29PM
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 RE/MAX Edge
Investment Insights
Based on property information with market context.
The property at 118 New London Road presents a 5-unit student housing investment opportunity. Originally three separate detached 4-bedroom homes, the property was rezoned and reimagined in 2021. The original three homes were renovated, and two additional 5-bedroom homes were built in between, creating one property consisting of five row homes with high-density garden apartment zoning. The location is strategically positioned between the University of Delaware's main campus and the north campus. This location and the construction quality have resulted in 100% occupancy since its inception, with favorable annual rent increases. The units were designed for college students, with trends towards individual bedrooms and multiple baths. The property is surrounded by other comparable student housing complexes, adding to the demand for this area and unit type. The University has demonstrated strong student body demographics and continues to add capital projects and campus growth with the addition of the STAR campus and other buildings throughout its campus. The bike score is 79, indicating it is very bikeable, and the walk score is 59, indicating it is somewhat walkable.
Key Highlights
- 100% occupancy since 2021 with favorable annual rent increases.
- Strategically located between UD's main campus and north campus.
- Five‑unit student housing investment opportunity with high density garden apartment zoning.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,093
Businesses Nearby
Explore this area
Business Placement
Demographics for 19711, DE
48,477
Population
20,617
Households
2.4
Avg Household Size
37
Median Age
53%
College-Educated
95%
High-School Grad
27.4 sq mi
ZIP Area
1,769
Density / Sq Mi
$94,455
Median Household Income
$43,790
Median Earnings
$1,516
Median Rent
$376,300
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Five-unit student housing near University of Delaware campus.
Where is this apartment building located?
The property is located at 118 NEW LONDON Rd Newark, DE.
What is the asking price?
The asking price for this property is $3,300,000.
What are key features of this property?
This property features: 100% occupancy since 2021 with favorable annual rent increases.; Strategically located between UD's main campus and north campus.; Five‑unit student housing investment opportunity with high density garden apartment zoning.
