"W O.W", THIS IS STUDENT HOUSING? THIS IS LUXURY STUDENT HOUSING OF 146 UNITS AT ITS FINEST AT WINTHROP UNIVERSITY IN ROCK HILL, SOUTH CAROLINA
PURCHASE PRICE PER THE SELLER OF $32,500,000 PLUS THE BUYER PAID 3% REAL ESTATE COMMISSION
THIS IS DEFINITELY "NOT" YOUR MOM & DAD'S STUDENT HOUSING. THIS 146 UNIT MULTI-FAMILY OFF CAMPUS STUDENT HOUSING IS DRIPPING WITH LUXURY. BRAND NEW (BUILT IN 2023) AND NOW ACCEPTING STUDENTS, THE OWNER/SELLER OF THIS ASSET IS IN THE MIDST OF LEASING UP THESE 146 UNITS. THESE UNITS ARE EASILY THE FINEST OF THE FINEST IN UNIVERSITY STUDENT HOUSING. LOCATED OF THE CAMPUS AT WINTHROP UNIVERSITY IN ROCK HILL, SOUTH CAROLINA, HOW MANY UNIVERSITY HOUSING PROPERTIES THAT YOU KNOW OF THAT HAS ITS OWN DOG PARK.
THE PROJECTED NOI IS EXPECTED TO BE AT FULL OCCUPANCY; IN EXCESS OF $1;850,000 OR A CAP RATE IN MID TO UPPER 5% RANGE.
AS THIS IS NEW CONSTRUCTION OF THIS CLASS A STUDENT HOUSING PROPERTY (2023), THERE IS NOTHING TO FIX, NOTHING TO UPGRADE, JUST LEASE UP THESE EXTREMELY LUXURY APARTMENTS AND MANAGE THE RESIDENT STUDENTS.
PER THE SELLER, THE EXPECTED GROSS INCOME IN THE FIRST YEAR TO BE APPROXIMATELY $3,065,000 AND TGE ANNUAL EXPENSES IN YEAR ONE TO BE APPROXIMATELY $1,369,000.
PLEASE NOTE: AS EVERYONE LIKES TO SEE PICTURES, THERE IS A TREASURE TROVE OF PICTURE ONLINE, BY SIMPLY GOOGLING THE SUBJECT PROPERTY ADDREESS.
