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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