Student Housing

Metro Crossing

2851 Hendrickson Dr, Eau Claire, WI 54701

Listing Price: $14,000,000

Cap Rate
5.61%
Number of Units
84
Occupancy
95.0%
Price/Unit
$166,667
Price/Gross SF
$160.98
Gross SF
86,967

Investment Overview

Student Apartments Near UW-Eau Claire Campus: Metro Crossing is a modern, 84-unit building located within minutes of the University of Wisconsin-Eau Claire and the Chippewa Valley Technical College. It is conveniently located on the bus route and includes many amenities that make it an ideal place for student living. Leases are 12 months and typically run from June to May. Newer Construction with Exceptional Amenities: Metro Crossing was built in 2013 and is in excellent condition. The exterior is James Hardi plank siding and the roof is flat with a 60ml EPDM rubber membrane. The roofing insulation is two layers of two inch isocyanate insulation that has been mechanically fastened. The attic insulation is two inches of sprayed foam with blown fiberglass over the top. Three central gas water heaters service all units while each unit includes an energy efficient electric magicpak with central air. In addition, each of the units in Metro Crossing includes a range, refrigerator, dishwasher, built-in microwave, washer and dryer and a kitchen island. When not in their upscale units, tenants can enjoy the use of the study lounge, the business center with computers, a fitness center and a community room with a kitchen, TV and fireplace. Underground parking is available on-site for $40 per month, along with secure bike storage. Lot parking is available for free. Upside Potential: The average historical occupancy at Metro Crossing has been 98.22% from 2015 through 2019. Preleasing is in progress with approximately 25% of the units leased for the 2021-22 school year and by continuing to rent to historical levels at the advertised rents, an investor can realize a total return of over 16 percent on these high end student rentals at a major university system.

Investment Highlights

  • Student Apartments Near UW-Eau Claire Campus
  • Newer Construction with Exceptional Amenities
  • Upside Potential with Continuation of Renting at Current Advertised Rents

Exclusively Listed By

Listing Price: $14,000,000

Cap Rate
5.61%
Number of Units
84
Occupancy
95.0%
Price/Unit
$166,667
Price/Gross SF
$160.98
Gross SF
86,967

Investment Highlights

  • Student Apartments Near UW-Eau Claire Campus
  • Newer Construction with Exceptional Amenities
  • Upside Potential with Continuation of Renting at Current Advertised Rents

Investment Overview

Student Apartments Near UW-Eau Claire Campus: Metro Crossing is a modern, 84-unit building located within minutes of the University of Wisconsin-Eau Claire and the Chippewa Valley Technical College. It is conveniently located on the bus route and includes many amenities that make it an ideal place for student living. Leases are 12 months and typically run from June to May. Newer Construction with Exceptional Amenities: Metro Crossing was built in 2013 and is in excellent condition. The exterior is James Hardi plank siding and the roof is flat with a 60ml EPDM rubber membrane. The roofing insulation is two layers of two inch isocyanate insulation that has been mechanically fastened. The attic insulation is two inches of sprayed foam with blown fiberglass over the top. Three central gas water heaters service all units while each unit includes an energy efficient electric magicpak with central air. In addition, each of the units in Metro Crossing includes a range, refrigerator, dishwasher, built-in microwave, washer and dryer and a kitchen island. When not in their upscale units, tenants can enjoy the use of the study lounge, the business center with computers, a fitness center and a community room with a kitchen, TV and fireplace. Underground parking is available on-site for $40 per month, along with secure bike storage. Lot parking is available for free. Upside Potential: The average historical occupancy at Metro Crossing has been 98.22% from 2015 through 2019. Preleasing is in progress with approximately 25% of the units leased for the 2021-22 school year and by continuing to rent to historical levels at the advertised rents, an investor can realize a total return of over 16 percent on these high end student rentals at a major university system.

Exclusively Listed By

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