Student Rental Investments
36 Parking Spaces
8 Blocks to CU Boulder
$1600/mo Avg Rent Per Room
$853,092 Net Operating Income
Portfolio Offered at $16,900,000
Sold separately or in any combination
The Heart of University Hill
10th & College
Six multi-unit homes (4 duplexes & 2 triplexes) all on the same block on University Hill, only 8 blocks to CU Boulder (University of Colorado). The Hill is the most sought after neighborhood for college students. Walking distance to class, shopping, dining and entertainment make this the prime location for any CU Buff.
Year over Year Rent Growth
Averaging 10% year over year rent growth, this unique housing product commands the highest rents and earliest pre-leasing (leases are signed 10-11 months prior to move in). 100% Occupancy Rate for the last 15+ years. Outstanding, proven business model includes 4 sources of income with little to no advertising.
Major Capital Improvements
All Houses have been renovated with new roofs (hail resistant shingles), new main drain sewer lines, new kitchens (granite counters, hickory cabinets, stainless appliances), new baths (ceramic tile on walls and floors, tubs, cabinets, sinks and plumbing fixtures), new flooring (new or refinished hardwoods, vinyl plank with noise insulation, carpet), and new heating systems (90% efficiency where possible). In general, the portfolio is turnkey with no deferred maintenance. Smart Reg compliant.
High Density Residential
The houses have coveted grandfathered duplex and triplex designations, the zoning is HDRE, 4 unrelated per unit. There are 52 bedrooms in the portfolio. Leases are 12 month terms from August to August. All properties are pre-leased through August 2021. Pre-leasing for Aug 2021-2022 should be completed by October 2020.