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ELKTON, MD-A 156-unit multifamily property in this Maryland submarket bordering the state of Delaware has been placed on the market by MHTJ Enterprises, which is hoping to get $128,205 per unit, or $20 million. The company has also listed a smaller, 108-unit apartment complex located in Downtown Wilmington, DE, for $9.7 million.

Buyers can acquire both properties or as individual transactions, according to Mark Thomson, an associate in the Philadelphia office of Marcus & Millichap, who is representing the seller in both sales. Both are almost fully occupied with a 1% vacancy rate.

The Wilmington complex--which is located within walking distance of Downtown and the nightlife of Trolley Square--has been listed at slightly less than $90,000 per unit. However, the Elkton holding, called Apartments at Iron Ridge, is emblematic of the growing number of multifamilies in this corner of the Mid-Atlantic that are breaching the $100,000 per unit price point. "Elkton can be described as a cross between suburban and rule--it is not quite as developed as Newark," Thomson tells GlobeSt.com.