Eagle Court @ South Eagleville Road - Apartments FOR SALE


Mansfield, CT 06268
$3,500,000 USD
860-649-4800
Eagle Court @ South Eagleville Road, Mansfield, CT for Sale
$3,500,000 USD
Apartments - FOR SALE
1/8
null | 9% Cap Rate

Eagle Court @ South Eagleville Road
Mansfield, CT 06268


HIGHLIGHTS

  • Rare & Affordable Entry Opportunity to UCONN Off-Campus Student Housing Market.
  • Minutes to UCONN Main Campus at Storrs with +/- 25,000 students and limited off-campus rental opportunities.
  • 40 Beds - Each Student Resident enjoys private bedroom and full access to kitchen, bathrooms, living room, rec room, onsite laundry and parking
  • Many recent monden upgrades and fully furnished.
  • Gross income of +/- $450K with strong & stable NOI. Offered at 9% Cap Rate
  • Please call about other UCONN "OFF-Market" Student Housing Opportunities

OVERVIEW

Rare & Affordable Entry Opportunity to UCONN off-campus student housing market. Highly supply constricted market with +/- 25,000 students and limited off-campus housing options. Minutes to main campus of the University of Connecticut at Storrs. 100% Historical Occupancy with strong annual income of over $450K, NOI of +/- $315,000 and attractive offering cap rate of 9%. Each student 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 sudent 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.

FOR SALE DETAILS

PRICE

$3,500,000 USD

PRICE/SF

$350 USD /SF

# OF UNITS

40

PRICE/UNIT

$87,500

CAP RATE

9%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

40 Off-Campus Student Housing Bedrooms

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1900

PARKING SPACES

-

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

-

APN/PARCEL ID

-

ASK ABOUT THIS PROPERTY

Thomas BoyleChozick Realty Inc.More Info
860-649-4800

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Thomas BoyleChozick Realty Inc.More Info
860-649-4800

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.