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Student Housing

Indian Village

128 N Fraternity Ln, Whitewater, WI 53190

Listing Price: $5,850,000

Cap Rate
6.74%
Number of Units
135
Price/Unit
$43,333
Price/Gross SF
$73.67
Gross SF
79,410

Investment Overview

Student Apartments Near UW-Whitewater Campus – Indian Village consists of 15 buildings with 135 one and two-bedroom units. The brick buildings were built in 1960, have roofs that are less than 10 years old and windows that were replaced in 2001 to 2003. The apartments are primarily rented by students of UW-Whitewater as the complex is less than two blocks from campus and Wal-Mart. Leases are available per semester or per month. There are 102 units that are furnished and include a couch and table, with a bed, desk, chair and dresser in each bedroom; perfect for student living. Internet is included in the rent, as well as heat and hot water. Tenants are responsible for their individual electric (except for seven units), including the use of their wall A/C unit. Please note the expenses for cable & internet in this package represent the amount the current owner would be willing to charge a new owner to provide the services. Additional Income Available – Parking at Indian Village is charged at $90 per semester plus $90 for summer. As of the Fall 2020/21 semester, 97 spaces were rented out of the 200 available. All of the washers and dryers on-site, one pair in each building, are owned and produce additional income for the property. Preleasing In Affect – As of March 2021, 60 units have been preleased for the 2021/22 school year. Priced Below the Comparable Properties – Indian Village is priced at $43,333 per unit, or $34,210 per bedroom, which is significantly lower than the comparable sales in the area at $78,969 per unit or $43,657 per bedroom. In addition, it has one of the lowest GRMs. University of Wisconsin-Whitewater – The Whitewater campus has about 11,000 students and the 10 dorms house about 41% of the population causing about 59% of students to live off campus. UW-Whitewater was ranked #12 by U.S. News for regional public colleges and universities. The school provides over 200 clubs and organizations and is home to 20 national championship teams.

Investment Highlights

  • Student Apartments Located Two Blocks from UW-Whitewater Campus
  • Additional Income Available with Parking and Owned Laundry
  • Priced Below Comparable Sales

Exclusively Listed By

Listing Price: $5,850,000

Cap Rate
6.74%
Number of Units
135
Price/Unit
$43,333
Price/Gross SF
$73.67
Gross SF
79,410

Investment Highlights

  • Student Apartments Located Two Blocks from UW-Whitewater Campus
  • Additional Income Available with Parking and Owned Laundry
  • Priced Below Comparable Sales

Investment Overview

Student Apartments Near UW-Whitewater Campus – Indian Village consists of 15 buildings with 135 one and two-bedroom units. The brick buildings were built in 1960, have roofs that are less than 10 years old and windows that were replaced in 2001 to 2003. The apartments are primarily rented by students of UW-Whitewater as the complex is less than two blocks from campus and Wal-Mart. Leases are available per semester or per month. There are 102 units that are furnished and include a couch and table, with a bed, desk, chair and dresser in each bedroom; perfect for student living. Internet is included in the rent, as well as heat and hot water. Tenants are responsible for their individual electric (except for seven units), including the use of their wall A/C unit. Please note the expenses for cable & internet in this package represent the amount the current owner would be willing to charge a new owner to provide the services. Additional Income Available – Parking at Indian Village is charged at $90 per semester plus $90 for summer. As of the Fall 2020/21 semester, 97 spaces were rented out of the 200 available. All of the washers and dryers on-site, one pair in each building, are owned and produce additional income for the property. Preleasing In Affect – As of March 2021, 60 units have been preleased for the 2021/22 school year. Priced Below the Comparable Properties – Indian Village is priced at $43,333 per unit, or $34,210 per bedroom, which is significantly lower than the comparable sales in the area at $78,969 per unit or $43,657 per bedroom. In addition, it has one of the lowest GRMs. University of Wisconsin-Whitewater – The Whitewater campus has about 11,000 students and the 10 dorms house about 41% of the population causing about 59% of students to live off campus. UW-Whitewater was ranked #12 by U.S. News for regional public colleges and universities. The school provides over 200 clubs and organizations and is home to 20 national championship teams.

Exclusively Listed By

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