The Details

Seven properties of well maintained and exceptionally managed student housing, 47 bedrooms total. Bulk sale on one deed only. 34 are leased for school year starting in August and historically the other 13 will lease by then. Six of these properties back onto campus, and have off street parking, 3 lots, a competitive advantage, and share a laundry facility at 130 N Fairview. At list price, a 10.8% cap rate. 128 N Fairview (2 plx, 5 bed), 61 N Jones (4 plx, 8 bed), 53 N Fairview (SFR, 5 bed), 130 N Fairview (SFR, 8 bed), 130 N Fairview REAR (4 PLX w/laundry facility, 9 bed), 136 N Fairview (2 PLX, 6 bed), and 604 W Main (2 PLX, 6 bed), Owned free and clear for 22 years. LLC can be purchased meaning no transfer tax, All properties gutted, re-wired and remodeled in 2004, many upgrades since.