Multifamily
Walk-to-Campus Single Family Home Student Housing Portfolio
1100 W Clay St, Richmond, VA 23220
Listing Price: $13,355,000
Investment Overview
Marcus & Millichap, as the exclusive listing agent, is pleased to present investors with a unique opportunity to acquire a diverse portfolio consisting of 30 single-family homes, totaling 102 Beds and The Sugar Shack, a thriving commercial property, all within walking distance of Virginia Commonwealth University (VCU). The offering also includes two vacant lots with development potential. Investors can choose to purchase the portfolio as a whole or in three separate parts.
Each home boasts premium finishes, such as granite countertops and stainless-steel appliances, and includes off-street parking. With residents covering utilities, operational costs are low. The properties benefit from strong rental demand due to their proximity to VCU and Richmond’s vibrant job market. Historically, they have maintained full occupancy, with leases aligned to the academic calendar and a stable tenant base primarily consisting of VCU students with guarantors.
Richmond's high demand for student housing is driven by VCU’s growing student population and limited on-campus options, along with the city’s dynamic job market. This portfolio presents an attractive opportunity for stable returns and long-term value in a thriving area.
Walk-to-Campus Single Family Home Student Housing Portfolio
Investment Highlights
- Exceptional Assets: 30 single-family homes and The Sugar Shack, all within walking distance of VCU.
- High Demand: Strong need for off-campus housing due to limited VCU on-campus options for upperclassmen and graduate students.
- Prime Location: Located within walking distance of Virginia Commonwealth University, local retail, and dining options, ensuring strong appeal and high demand from students and young professionals.
- Stable Occupancy: Long-term full occupancy with 12-month leases aligned with the academic calendar, primarily VCU students with guarantors.
- Premium Renovations: Homes feature granite countertops and stainless-steel appliances.
- Favorable Rental Terms: Potential for single-family rentals to increase to market rent, with a 5% increase for commercial space.
- Low Operating Costs: Well-maintained with minimal expenses, maximizing profitability.
- Opportunity Zones: Located in Opportunity Zones with potential tax benefits.
Exclusively Listed By
Financing By
Multifamily
Walk-to-Campus Single Family Home Student Housing Portfolio
Listing Price: $13,355,000
Investment Highlights
- Exceptional Assets: 30 single-family homes and The Sugar Shack, all within walking distance of VCU.
- High Demand: Strong need for off-campus housing due to limited VCU on-campus options for upperclassmen and graduate students.
- Prime Location: Located within walking distance of Virginia Commonwealth University, local retail, and dining options, ensuring strong appeal and high demand from students and young professionals.
- Stable Occupancy: Long-term full occupancy with 12-month leases aligned with the academic calendar, primarily VCU students with guarantors.
- Premium Renovations: Homes feature granite countertops and stainless-steel appliances.
- Favorable Rental Terms: Potential for single-family rentals to increase to market rent, with a 5% increase for commercial space.
- Low Operating Costs: Well-maintained with minimal expenses, maximizing profitability.
- Opportunity Zones: Located in Opportunity Zones with potential tax benefits.
Investment Overview
Marcus & Millichap, as the exclusive listing agent, is pleased to present investors with a unique opportunity to acquire a diverse portfolio consisting of 30 single-family homes, totaling 102 Beds and The Sugar Shack, a thriving commercial property, all within walking distance of Virginia Commonwealth University (VCU). The offering also includes two vacant lots with development potential. Investors can choose to purchase the portfolio as a whole or in three separate parts. Each home boasts premium finishes, such as granite countertops and stainless-steel appliances, and includes off-street parking. With residents covering utilities, operational costs are low. The properties benefit from strong rental demand due to their proximity to VCU and Richmond’s vibrant job market. Historically, they have maintained full occupancy, with leases aligned to the academic calendar and a stable tenant base primarily consisting of VCU students with guarantors. Richmond's high demand for student housing is driven by VCU’s growing student population and limited on-campus options, along with the city’s dynamic job market. This portfolio presents an attractive opportunity for stable returns and long-term value in a thriving area.
Exclusively Listed By
Financing By
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