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42 Units - Student Housing 260-262 Mast Rd 42 Unit Apartment Building $15,617,699 CAD ($371,850 CAD/Unit) Durham, NH 03824
Investment Highlights
- 3 buildings in total (two at 260 Mast Road and one at 262 Mast Road)
- 113 beds total (both buildings combined)
- On-site laundry
- 42 units total (40 units at 260 Mast Road and 2 units at 262 Mast Road)
- 70 parking spaces total (both buildings combined)
- 3.32± total acres
Executive Summary
260 & 262 Mast Road offers a well-diversified unit mix ranging from studios to four-bedroom apartments, appealing to the broad spectrum of housing preferences within the University of New Hampshire student market. The property features onsite laundry facilities and ample onsite parking, with parking available to tenants for an additional fee.
The asset has a proven track record of exceptional operating performance, consistently maintaining near-100% occupancy, strong pre-leasing activity, and average annual rent growth of approximately 2.4% over the past six years. These strong fundamentals position the property to continue benefiting from the sustained demand for off-campus student housing.
The offering includes both 260 and 262 Mast Road, comprising a total of 42 apartment units and 113 beds. Leases are structured with tenants responsible for their individual electric service, while all other operating expenses are included in the rent. WiFi is also included except for two units. The property is being offered at a 7.8% capitalization rate based on the forecasted NOI, presenting investors with an opportunity to acquire a stabilized, high-performing student housing asset in a proven rental market.
The asset has a proven track record of exceptional operating performance, consistently maintaining near-100% occupancy, strong pre-leasing activity, and average annual rent growth of approximately 2.4% over the past six years. These strong fundamentals position the property to continue benefiting from the sustained demand for off-campus student housing.
The offering includes both 260 and 262 Mast Road, comprising a total of 42 apartment units and 113 beds. Leases are structured with tenants responsible for their individual electric service, while all other operating expenses are included in the rent. WiFi is also included except for two units. The property is being offered at a 7.8% capitalization rate based on the forecasted NOI, presenting investors with an opportunity to acquire a stabilized, high-performing student housing asset in a proven rental market.
Property Facts
| Price | $15,617,699 CAD | Lot Size | 3.32 AC |
| Price Per Unit | $371,850 CAD | Building Size | 40,414 SF |
| Sale Type | Investment | Average Occupancy | 100% |
| No. Units | 42 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 2010 |
| Property Subtype | Apartment | Parking Ratio | 1.75/1,000 SF |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Building Class | C | ||
| Zoning | MUDOR - Mixed Use, Office and Research District | ||
| Price | $15,617,699 CAD |
| Price Per Unit | $371,850 CAD |
| Sale Type | Investment |
| No. Units | 42 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 3.32 AC |
| Building Size | 40,414 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 2010 |
| Parking Ratio | 1.75/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | MUDOR - Mixed Use, Office and Research District |
Amenities
Unit Amenities
- Dishwasher
- Microwave
- Storage Space
- Kitchen
- Refrigerator
Site Amenities
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Tenant Controlled HVAC
- Smoke Free
- Community-Wide WiFi
- Smoke Detector
Somewhat walkable
20/100
Exceptionally drivable
100/100
Somewhat bikeable
20/100
Property Taxes
| Parcel Number | DRHM-000013-000002 | Improvements Assessment | $550,278 CAD |
| Land Assessment | $379,186 CAD | Total Assessment | $929,464 CAD |
Property Taxes
Parcel Number
DRHM-000013-000002
Land Assessment
$379,186 CAD
Improvements Assessment
$550,278 CAD
Total Assessment
$929,464 CAD
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42 Units - Student Housing | 260-262 Mast Rd
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