Hyattsville, MD – Harbor Stone Advisors has been awarded the assignment to market The Jennifer at Adelphi, a well-maintained 12-unit asset in Prince George’s County. Harbor Stone Advisors President, Justin Verner, Director, Brooks Healy, Senior Advisor, Tom Wohlgemuth, and Advisor, Kevin Landolphi are marketing the property.
The property, located at 9420-9424 Adelphi Rd., is comprised of (12) 2 Br-1 Ba units. Former ownership renovated 11 units, and typical finishes include new appliances, granite countertops, new wood cabinets, updated bathrooms, recessed lighting, vinyl wood flooring in lower level units, refinished hardwood flooring, and new carpet in bedrooms. Four of the 11 units received a higher renovation scope under current ownership, to include quartz countertops, updated cabinetry, and tile backsplash.
In addition to unit renovations, current ownership completed numerous capital projects such as a door access system installation, repavement of the parking lot, and replacement of the roof and chimney.
With minimal deferred maintenance, the opportunity exists for a new owner to continue the elevated renovation on the remaining units. The market is accepting of higher-end renovations and comparable properties nearby are currently achieving rents $180 higher on average than the Subject property.
Located in Hyattsville, the property is situated near transit amenities and several major employers. Two stops on the upcoming purple line, a light rail line connecting critical employment centers in Prince George’s and Montgomery Counties (estimated to begin passenger service in 2027), are within walking distance of the property. Residents are also within a short drive of University of Maryland College Park, the county’s largest employer which hosts over 18,000 workers and 30,000 students. Additional nearby employment drivers include U.S. Food and Drug Administration Headquarters (9,000 employees) and The Adelphi Laboratory Center (1,500 employees).
About Harbor Stone Advisors
Harbor Stone Advisors specializes in middle-market multifamily investment sales throughout the Mid-Atlantic. Advisory services include value opinions, asset dispositions and marketability analysis for private clients, owners, investors and financial organizations. For additional information, visit: www.harborstoneadvisors.com