3 UNIT - 10 BEDROOM INVESTMENT PROPERTY. Student Rental history of $80k - $86k/year Gross Income. Currently Leased for the 2024-2025 and Partially Leased 2025-2026 school years.
This fully furnished property features a 1 bed / 1 full bath, 5 bed / 2 full, 1 half bath, and a 4 bed / 2 full bath along with laundry in the basement. It has new kitchens, and carpeting throughout. Conveniently located near downtown, the campus, and bus routes. A Certificate of Compliance in place, and the seller is a licensed real estate broker. This is an excellent opportunity for cash flow!
2024-2025 School Year: GROSS INCOME: $69,100. Currently advertising for three open bedrooms for the spring semester, potential $9k additional (discounted). 24-25 NET OPERATING INCOME = $52,410
2025-2026 School Year: POTENTIAL GROSS INCOME: $89,000. Currently advertising for the 1 bed and 4 bed units. 5 bedroom rented. 25-26 POTENTIAL NET OPERATING INCOME= $75,310
2025-2026 SIGNED GROSS INCOME: $46,000
TOTAL EXPENSES: $16,690: Land & School Taxes = $5,490, Insurance = $1,500 , Heat/Electric = $6,800 , Cable/Internet = $1,200 , Garbage = $500 , Water/Sewer = $1200.
