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Multifamily

Roy Oaks Manor

5700 42nd Ave, Hyattsville, MD 20781

Listing Price: $1,600,000

Cap Rate
6.00%
Number of Units
11
Occupancy
100.0%
Price/Unit
$145,455
Price/Gross SF
$160.00
Gross SF
10,000

Investment Overview

Marcus & Millichap is pleased to represent the owner of the Roy Oaks Manor at 5700 42nd Avenue Hyattsville, MD. The Roy Oaks Manor is an eleven-unit apartment located one mile from the Prince George's Plaza Metro and the West Hyattsville metro, with access to the Green and Yellow lines. The Roy Oaks Manor presents an opportunity for an investor to acquire a fully occupied building with renovated units, and minutes away from the new Prince George's Mall and other new development nearby. Built-in 1964, this building has undergone significant renovation including a new water main line into the property (2019), new furnaces (2008-2016), new windows (2008), and a new roof (2008). An investor can increase rent in this non-rent control market with these spacious renovated units, and earn additional income from the storage units and the laundry unit. Roy Oaks Manor is located in a predominately residential submarket, but only within walking distance from retail and office stores on Route 1, one mile from the region's largest malls, and neighboring to University of Maryland, College Park, 2.1 miles away. Hyattsville is continuing to experience new development with the new Riverdale Park Station that includes a Whole Foods supermarket, Burton's Grill, and other major retailers. Future development includes The Riverfront at Hyattsville, which has plans for 300-400 apartment units, 183 townhouses, and 10,000 square feet of retail/commercial space by 2025.

Investment Highlights

  • Fully Occupied
  • Renovated Units
  • Upside Potential in Rental Income

Exclusively Listed By

Financing By

  • Jared Cassidy

    First Vice President Capital Markets

    Direct:

    Email Jared

    Washington, D.C., MD

Listing Price: $1,600,000

Cap Rate
6.00%
Number of Units
11
Occupancy
100.0%
Price/Unit
$145,455
Price/Gross SF
$160.00
Gross SF
10,000

Investment Highlights

  • Fully Occupied
  • Renovated Units
  • Upside Potential in Rental Income

Investment Overview

Marcus & Millichap is pleased to represent the owner of the Roy Oaks Manor at 5700 42nd Avenue Hyattsville, MD. The Roy Oaks Manor is an eleven-unit apartment located one mile from the Prince George's Plaza Metro and the West Hyattsville metro, with access to the Green and Yellow lines. The Roy Oaks Manor presents an opportunity for an investor to acquire a fully occupied building with renovated units, and minutes away from the new Prince George's Mall and other new development nearby. Built-in 1964, this building has undergone significant renovation including a new water main line into the property (2019), new furnaces (2008-2016), new windows (2008), and a new roof (2008). An investor can increase rent in this non-rent control market with these spacious renovated units, and earn additional income from the storage units and the laundry unit. Roy Oaks Manor is located in a predominately residential submarket, but only within walking distance from retail and office stores on Route 1, one mile from the region's largest malls, and neighboring to University of Maryland, College Park, 2.1 miles away. Hyattsville is continuing to experience new development with the new Riverdale Park Station that includes a Whole Foods supermarket, Burton's Grill, and other major retailers. Future development includes The Riverfront at Hyattsville, which has plans for 300-400 apartment units, 183 townhouses, and 10,000 square feet of retail/commercial space by 2025.

Exclusively Listed By

Financing By

  • Jared Cassidy

    First Vice President Capital Markets

    Direct:

    Email Jared

    Washington, D.C., MD

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