Property details

Washington Student Housing Properties, Northwest Region

Property Description

Washington Student Housing Properties

Tier 1, small college, 1500-1800 students.

This student housing owner is the market leader in the community.

They sets pricing for the market and dominates the student housing market.

The properties are made up of Ten 6-8 bedroom single family residences and a 4-plex.

There is never any vacancies except for the short summer time used to spruce up the properties.

Total of 84 beds.

Very elite properties. The owner also owns other properties in the community - mixed use commercial properties and subdivision land.

The properties vary from classic craftsman style homes built in the 20's and 30's to brand new construction to further develop the properties.

The properties are all in good condition with a scheduled remodel on one each summer.

All good roof's, exterior paint, refinished floors, interior paint, new kitchens and all newer appliances.

5 units are older and 10 units are new construction.

Gross Income $412,371
Insurance $9,351
Repairs $9,917
Taxes $21,866
Utilities $29,333
Net operating Income
$341,904

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Highlights

Status:
Available
Price:
$5,000,000
Cap Rate:
6.84%
Annual Rent:
$341,904
 

Property Information

Property Type:
Apartments
Industry Type:
Apartment - Multifamily
Units/Spaces:
84
Purchase Tenure:
Fee Simple
 

Existing financing information

N/A

The information contained herein contains confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient will be prohibited. The information contained herein has been obtained from sources believed to be reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about the accuracy or completeness of the information. As a buyer, it is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this property to you depends on factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. We have no knowledge of this offering other than the information received from Seller or their representatives. We are neither your agent or an agent for the seller. We will not participate in the negotiation of the purchase price or attend the showing of this property. As a buyer, you will be required to indemnify us and hold us harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this property.