Mid-Rise 3or4 Story

Washington University student housing apartment offering! Well-located in the Delmar Loop neighborhood, just a block behind Wash U's new $80M mixed use development in The Loop. 100% leased through next May. Current rental rates are below market due to construction on the street during last leasing season. Offered at a 7.0% cap rate (9.5% cash-on-cash) on current rents in place, with Year 2 projected cap rate of 9% (19% cash-on-cash) with units leased at market rents of $1,495!! 3 bed market rents in this neighborhood are $1,495-1,895/mo. Unbelievable opportunity in a well-protected and high-growth market. Wash U owns most of the buildings here, very few individually-owned buildings left for acquisition (see map in supplements). Kitchen and bath updates, newer stacks top to bottom both sides, thermal windows, brand new electric services being installed, separate HVAC & HWH. Highly walkable location- 86 walk score/79 bike score. Grocery store and dozens of restaurants 1 block away.

Washington University student housing apartment offering! Well-located in the Delmar Loop neighborhood, just a block behind Wash U's new $80M mixed use development in The Loop. 100% leased through next May. Current rental rates are below market due to construction on the street during last leasing season. Offered at a 7.0% cap rate (9.5% cash-on-cash) on current rents in place, with Year 2 projected cap rate of 9% (19% cash-on-cash) with units leased at market rents of $1,495!! 3 bed market rents in this neighborhood are $1,495-1,895/mo. Unbelievable opportunity in a well-protected and high-growth market. Wash U owns most of the buildings here, very few individually-owned buildings left for acquisition (see map in supplements). Kitchen and bath updates, newer stacks top to bottom both sides, thermal windows, brand new electric services being installed, separate HVAC & HWH. Highly walkable location- 86 walk score/79 bike score. Grocery store and dozens of restaurants 1 block away.