Princeton Court

Ideal Realty Group (IRG) is exclusively representing the seller in the disposition of Princeton Court Apartments. The property is a 159- unit, single-story apartment community built in 1987 and located in the prospering Frederick County market.

The current ownership has upgraded 99 units to include shaker cabinets with laminate countertops, tile backsplashes, stainless steel appliances, microwaves, garbage disposals, and full-sized washer and dryer units in the one and two-bedroom units. There are 99 renovated units and 60 unrenovated units. The loss-to lease averages $202/unit/month with an accretive renovation premium of $208/unit/month.

The property consists of 40 studios, 108 one-bedroom units, 10 two-bedroom units, and one three-bedroom unit, with an average size of 525 SF. Tenants enjoy walkable access to a Food Lion, gas station, bus stop, and multiple restaurants.

Living in the heart of Frederick puts residents less than a quarter-mile from the convergence of US-15, I-70, and I-270, offering seamless travel to powerhouse job markets like Washington, DC, Baltimore, Columbia, and the thriving I-270 Biotech Corridor. Nearby, top Frederick employers are only a short drive away, including Frederick National Laboratory (5–7 minutes, 2,700+ employees) and Fort Detrick (10 minutes, 10,000+ employees), with AstraZeneca’s major Gaithersburg facility (10 minutes, 2,500+ employees) also within reach.