- For Sale Contact for pricing
- Property Type Other
- Units 86
- Date Updated Apr 26, 2024
- Website colebrookmanortownhomes.sharplaunch.com
3911 25th Ave. | Hillcrest Heights, MD 20748
Harbor Stone Advisors is pleased to present the opportunity to acquire Colebrook Manor Townhomes, a value-add townhome community in Prince George’s County Maryland. Competing properties within the same neighborhood are achieving an average of $450/mo more in rents, providing a new owner the opportunity to capitalize on nearly 25% rent growth through interior renovations.
Colebrook Manor features 86 townhome style 2 Br-1Ba units plus one leasing office. All units are bi-level and have similar layouts with separate entrances. There are also two separate parking lots with 64 spaces for tenant use. Current ownership has replaced roughly 90% of the roofs starting in 2018, as well as light interior renovations on roughly 25% of the units starting in 2021. Typical upgrades include new white or black appliances, resurfaced countertops, carpet/vinyl flooring, and updated bathrooms. Units are separately metered and serviced by 100-120 amps of power, presenting the option to install in-unit washers and dryers as well as upgrading to full HVAC throughout.
The opportunity exists for a new owner to complete or expand upon the interior renovations and bring rents to market, as there is a significant delta between both renovated and non-renovated units when compared to the immediate competition. Further value-add potential exists via exterior improvements such as repainting and landscaping around the buildings and adding amenities such as dog parks and playgrounds.
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Attachments
Highlights
- Opportunity to Acquire a Value-Add Townhome Community in Prince George's County
- Features 86 bi-level 2 Br-1 Ba townhome units, one leasing office, and two surface parking lots with 64 spaces.
- Typical unit features will include white or black appliances, granite or formica countertops, varied wood cabinets, and carpet flooring or vinyl flooring.
- Current ownership has progressively updated roughly 70% of the unit interiors upon turnover as well as replaced roughly 90% of the roofs starting in 2017.
- All units are supplied with 120 amps of power providing several available upgrades for a new owner.
- Ability to Increase Rents at Least 25%
- Currently, rents are on average $450/mo lower than directly competing properties in the neighborhood.
- A new owner has the option to complete ongoing interior renovations on all units with a suggested scope of stainless steel appliances, granite countertops and updated bathrooms.
- Additional value-add opportunities include the addition of in-unit washers and dryers, and adding amenity spaces such as a dog park or picnic area.
- 15-Minute Commute to Washington D.C.
- Within a 1 mile radius of several Metro stations which a high percentage of the tenant base uses.
- Conveniently located in between I-495 and I-695; within walking distance to numerous retail and shopping centers.
- Most tenants commute to D.C. for work; major employers nearby include Joint Base Andrews, I.R.S., and the Census Bureau.
False
Contacts
Location
Getting Around
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Walk Score ®
62/100
Somewhat Walkable
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Transit Score ®
62/100
Good Transit
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Bike Score ®
38/100
Somewhat Bikeable
- City Hillcrest Heights, MD
- Neighborhood Congress Heights
- Zip Code 20748
- Market Washington DC Suburban Maryland
Points of Interest
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Southern Avenue
1.41 miles
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Naylor Road
2.55 miles
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Suitland
3.68 miles
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Branch Avenue
4.81 miles
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Capitol Heights
5.93 miles
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Addison Road
6.66 miles
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Cheverly
7.10 miles
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Morgan Boulevard
8.12 miles
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West Hyattsville
8.35 miles
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Landover
8.89 miles
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Oxon Hill Marathon
1.34 miles
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BP
1.54 miles
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Marathon
2.34 miles
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Sunoco
2.42 miles
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Shell
2.51 miles
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Exxon
2.52 miles
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Shell
2.55 miles
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Citgo
2.60 miles
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Royal Farms
2.60 miles
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Mobil
2.60 miles
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Southern Avenue Metro Station Parking
1.35 miles
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Naylor Road Metro
2.49 miles
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Naylor Road Metro Station Parking
2.50 miles
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Carousel Lot
3.58 miles
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Fleet Garage
3.66 miles
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Suitland Metro Station Parking
3.80 miles
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Mariner Garage
3.80 miles
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Saint George Garage
3.83 miles
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Visitor Parking
3.85 miles
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North Garage
3.86 miles
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Comfort Inn
2.31 miles
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Harborside Hotel
2.44 miles
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Red Roof PLUS+ Washington, DC - Oxon Hill
2.58 miles
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Hyatt Place National Harbor
3.63 miles
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AC Hotel by Marriott National Harbor Washington, DC Area
3.74 miles
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Wyndham Vacation Resorts
3.78 miles
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The Westin Washington National Harbor
3.78 miles
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Residence Inn by Marriott National Harbor Washington, DC Area
3.84 miles
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Hampton Inn & Suites National Harbor/Alexandria Area
3.87 miles
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Gaylord National Resort and Convention Center
3.97 miles
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Burger King
1.20 miles
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Popeyes
1.25 miles
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McDonald's
1.53 miles
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Popeyes
2.26 miles
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Sardi's Pollo A La Brasa
2.35 miles
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Taco Bell
2.36 miles
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Pizza Hut
2.37 miles
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IHOP
2.42 miles
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Bojangles'
2.44 miles
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Outback Steakhouse
2.44 miles
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Glassmanor Elementary School
1.47 miles
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Forest Heights Elementary School
1.48 miles
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Queens Road Elementary School
1.63 miles
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Potomac High School
1.65 miles
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Panorama Special Education Center
1.67 miles
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G Gardner Shugart Middle School
1.74 miles
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Holy Family School
1.95 miles
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Green Valley Elementary School
1.95 miles
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Flintstone Elementary School
2.10 miles
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Valley View Elementary School
2.18 miles
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Saint Matthew's Parish Day School
8.97 miles
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Sacred Heart Nursery
9.40 miles
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Rising Generations
9.48 miles
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Wonders Child Care
10.00 miles
Frequently Asked Questions
What is the total square footage of Colebrook Manor Townhomes?
Colebrook Manor Townhomes totals 4 square feet.
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