40 Off-Campus Student Housing Bedrooms 6 Eagle Ct 40 Unit Apartment Building $3,500,000 ($87,500/Unit) 9% Cap Rate Storrs Mansfield, CT 06268

Rare & Affordable Entry Opportunity to UCONN off-campus student housing market. Highly supply constricted market with +/- 27,000 students and limited off-campus housing options. Minutes to main campus of the University of Connecticut.. 100% Historical Occupancy with strong annual income of over $450K, NOI of +/- $315,000 and attractive offering cap rate of 9%. 39 of 40 Beds Currently Leased. Each bedroom (40) is currently rented for $11,000 per year and typically paid in two installments; $5,500 in August and $5,500 in January. Student residents enjoy a private bedroom and access to common areas including kitchen, bathrooms, living room and/or rec room . Fully Furnished, each 4 BR Unit has onsite laundry and more than ample onsite parking. Owner of 12+ years has made many upgrades and units are move in ready including modern finishes and full furnishings. Rents include utilities and internet. Successfully marketed at little owner expense thru social network sites. Many student residents renew their leases throughout their tenure at UCONN. Property includes an independent 1 bedroom apartment currently rented to and occupied by an onsite superintendent/manager.