Harbor Stone Advisors has executed the sale of Adelphi Court, 12 units in Hyattsville, Maryland. This deal traded for $2,400,000 or $200,000 per unit. Harbor Stone Advisors President, Justin Verner, and Senior Advisor, Brooks Healy, served as exclusive advisor and agent to the seller as well as sourcing the buyer.
Adelphi Court, located at 9420 Adelphi Rd, Hyattsville, MD 20783, features (12) 2 Br-1 Ba units, and property amenities include a surface parking lot and free use of washers & dryers in the laundry room. The units benefited from large unit sizes and upside ability via renovations.
Verner noted, “The suburbs of DC have been particularly sought after since the pandemic for multifamily investors. The market response and sale price were another affirmation of this.”
Adelphi Court is located in Hyattsville, a city in Prince George’s County, Maryland, and a suburb of Washington DC. The subject property is located in a mostly residential area and is just a 5-minute drive to University of Maryland College Park. NASA Goddard Space Flight Center, located in nearby Goddard, is a top area employer, employing 3,397 people. The NASA headquarters are also located close by in Washington D.C. Together, the two centers employ over 30,000 people. Other major area employers include the Food and Drug Administration (FDA) with 8,500 employees, Internal Revenue Service (IRS) with 5,539 employees, UPS (4,220 employees), and US Department of Agriculture (1,850 employees). Close proximity to several stops on the Washington Metro’s green line, including Prince George’s Plaza (9-minute drive) and College Park (14-minute drive). Additionally, the subject property will be just a 6-minute drive to the Adelphi Road stop on the soon-to-be-built Purple Line.
About Harbor Stone Advisors:
Harbor Stone Advisors specializes in middle-market multifamily investment sales throughout the Mid-Atlantic. Advisory services include asset dispositions and marketability analysis for private clients, owners, investors and financial organizations. For additional information, visit www.harborstoneadvisors.com.
