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The Quarters on Luther 701 Luther St W 30 Unit Apartment Building For Sale College Station, TX 77840
Investment Highlights
- Quarters on Luther is a 30-unit, 60-bed community with two-bed units with bed-bath parity built in 2009.
- Quarters on Luther is well-located in close proximity to Texas A&M’s campus, especially close to Reed Arena and Kyle Field.
- Texas A&M has the largest student body in the nation, with over 81,000 students. Enrollment is consistently growing.
- Units are modern with stainless steel appliances, granite counters, and hardwood-style flooring.
- Better located than a lot of its comps.
- To maximize value for this asset, an investor could condo out the units and sell them individually.
Executive Summary
This offering represents the opportunity to acquire a student housing community in College Station, Texas, at Texas A&M University.
Quarters on Luther is a 30-unit, 60-bed community with two-bed units with bed-bath parity built in 2009. Units are modern with stainless steel appliances, granite counters, and hardwood-style flooring.
Units at this community could be condo-ed out. Condo-ing units and selling them individually could maximize the value of the property.
This offering represents 100 percent fee-simple interest in Quarters on Luther, free and clear of any debt.
Quarters on Luther is a 30-unit, 60-bed community with two-bed units with bed-bath parity built in 2009. Units are modern with stainless steel appliances, granite counters, and hardwood-style flooring.
Units at this community could be condo-ed out. Condo-ing units and selling them individually could maximize the value of the property.
This offering represents 100 percent fee-simple interest in Quarters on Luther, free and clear of any debt.
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Property Facts
| Sale Type | Investment | Building Size | 24,000 SF |
| No. Units | 30 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 2009 |
| Apartment Style | Garden | Parking Ratio | 3.75/1,000 SF |
| Building Class | B | Opportunity Zone |
Yes
|
| Lot Size | 1.58 AC | ||
| Zoning | MF-4-NP | ||
| Sale Type | Investment |
| No. Units | 30 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 1.58 AC |
| Building Size | 24,000 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 2009 |
| Parking Ratio | 3.75/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | MF-4-NP |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 30 | - | - |
1 1
Fairly walkable
40/100
Very drivable
80/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 347943 | Improvements Assessment | $3,450,670 |
| Land Assessment | $341,330 | Total Assessment | $3,792,000 |
Property Taxes
Parcel Number
347943
Land Assessment
$341,330
Improvements Assessment
$3,450,670
Total Assessment
$3,792,000
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