Investment Overview

Marcus & Millichap is pleased to offer to qualified investors, Utopia Cottages, an 8-unit, 30-bed, student housing asset located within a half mile from University of West Florida in Pensacola, FL. Built-in 2020, Utopia Cottages offers tenants two-story, cottage-style units, with high end finished such as granite countertops, white shaker cabinets, stained concrete flooring, stainless steel appliances, recess lighting, and washer/dryer appliances. The unit mix at Utopia Cottages consists of (2) three-bedroom/three-and-a-half-bathroom units consisting of 1,408 Sq. Ft., and (6) four-bedroom/four-and-a-half-bathroom units consisting of 1,568 Sq. Ft. Currently, the property is not fully furnished with furniture as normal in student housing, and a buyer has the ability to furnish the units while increasing the rents to be competitive within the market.