Property details
Southeast Value-Add Student Housing For Sale, Southeast Region
Property Description
Southeast Value-Add Student Housing For Sale
Motivated Seller
Owner has not done any rehab since 2013.
Owner prefers to sell with a quick closing to an All-Cash buyer with a closing by 2017 year end.
Over 9,000 undergraduates within walking distance (0.7 miles or less) from the campus of 1 State University and 1 College. The University's current enrollment of 11,900 is up 13% since 2007 and is forecasted to grow to 13,500 over the next three years, adding additional compression to an already tight market.
Over 26,500 undergraduates within 2.5 miles from the campus of 2 Universities and 3 Colleges.
300 units
840 beds
97.6 - 98% Occupancy
Priced below replacement cost with upside
Current ownership has implemented capital improvements to reposition this asset and focus solely on stabilization.
At 97% occupancy, new ownership can continue to reposition this asset and drive rental rates through a program that leverages recent capital investment as well as additional value and initiatives.
Through modest interior upgrades, including modernizing fixtures, faux wood flooring, stainless steel appliances, countertop, etc.
This property is unpriced. As a first step, the owner requires that any interested buyer must provide their BIO and show ability to close. Upon approval, owner will release all due diligence information.
This is a Confidential, Deliverable Off-Market Property. This property is located in a Southeastern state (the state shown is representative only). Located in one of the following Southeastern States: Alabama, Arkansas, Florida, Georgia, Kentucky, Louisiana, Mississippi, North Carolina, South Carolina, Tennessee, Virginia, West Virginia.
Images
Highlights
- Status:
- Available
- Price:
- $0
Property Information
- Property Type:
- Student Housing
- Industry Type:
- Apartment - Multifamily
- Units/Spaces:
- 300
- Year Built:
- 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.