Highfield Commons - 96 Unit Multi Family

Multi-Family for Sale
Catylist Listing ID: 29950440
Property Subtypes: Mid-Rise
Building Status: Under Construction
Number of Units: 96 Units
Building Size (RSF): 159,192 SF
Gross Building Area: See Agent
Sale Price: $23,102,700
Unit Price: $240,653.12 Per Unit
Property Use Type: Investment
Sale Terms: Undisclosed
Last Updated: 11/15/2018

Overview / Comments

Highfield Commons is a Newly Constructed, 96 Unit apartment complex, consisting of 84, 3-bedroom Town-Home Style residences and 12, 2-Bedroom Garden Style residences. All units have 2 to 2.5 bathrooms. The opportunity for an investor to acquire 3 bedroom units is very rare. Families looking for more than the traditional box units find Highfield Commons the perfect alternative. Even more appealing, is that every unit has a garage space with room for tandem parking on the driveway. The commuter location of this development is also an attractive amenity that provides for a broader population of potential renters throughout the greater Portsmouth area.

To date, 72 units have been constructed and rented as available. Transfer of ownership will occur after the completion of all 96 Units, with a minimum of 95% Occupancy. The remaining units are under construction and will be delivered in phases throughout 2018. This is an ideal opportunity to secure an investment grade, multi-family development in this dynamic community. Escalating rents for future delivered units may be additional upside to the projected return.

Directly off the Spaulding Turnpike at Exit 13, Route 16 and Route 202, 20 minutes to Portsmouth, Naval Shipyard and the Seacoast.

Additional Details

Nearest MSA: Boston-Cambridge-Newton
County: Strafford
Tax ID/APN: 0237-0008-0001
Zoning: P2

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Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 23,479 40,511
Median Age: 39.67 40.79
Households: 9,559 16,395
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