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Student Housing

The Maples of Cullowhee

35 Grad House Ln, Cullowhee, NC 28723

Listing Price: Request For Offer

Number of Units
74
Occupancy
98.7%
Gross SF
50,804

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire Maples of Cullowhee in Cullowhee, North Carolina. Primarily constructed in 2007 and consisting of 115 beds, the property serves the rapidly expanding student housing population of Western Carolina University. Strong annual rent growth within the Cullowhee market, paired with the increasing demand for rental housing in a market that has traditionally been underserved, provides investors with an outstanding opportunity to increase rents with an asset that allows for versatility when considering future investment strategies.

Investment Highlights

  • Opportunity to Increase NOI Upon Acquisition - Current Market Rents at Maples of Cullowhee are 8-10% below comparable properties within the market.
  • Value-Add Opportunity through Interior Upgrades - Strategic upgrade program to modernize/update unit interiors with light upgrades provides investors the potential to increase NOI over 20%.
  • Versatile Investment Opportunity - The property's current resident base consists primarily of students. The floor plans and configuration allow for a variety of business strategies moving forward.

Exclusively Listed By

Broker of Record

  • Benjamin Yelm

    Regional Manager

    License(s): NC: 303785

    North Carolina

Student Housing

The Maples of Cullowhee

Listing Price: Request For Offer

Number of Units
74
Occupancy
98.7%
Gross SF
50,804

Investment Highlights

  • Opportunity to Increase NOI Upon Acquisition - Current Market Rents at Maples of Cullowhee are 8-10% below comparable properties within the market.
  • Value-Add Opportunity through Interior Upgrades - Strategic upgrade program to modernize/update unit interiors with light upgrades provides investors the potential to increase NOI over 20%.
  • Versatile Investment Opportunity - The property's current resident base consists primarily of students. The floor plans and configuration allow for a variety of business strategies moving forward.

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire Maples of Cullowhee in Cullowhee, North Carolina. Primarily constructed in 2007 and consisting of 115 beds, the property serves the rapidly expanding student housing population of Western Carolina University. Strong annual rent growth within the Cullowhee market, paired with the increasing demand for rental housing in a market that has traditionally been underserved, provides investors with an outstanding opportunity to increase rents with an asset that allows for versatility when considering future investment strategies.

Exclusively Listed By

Broker of Record

  • Benjamin Yelm

    Regional Manager

    License(s): NC: 303785

    North Carolina

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