Description of the business for sale
This is an attractive student rental investment opportunity in excellent condition throughout. Owners maintain this property on a regular basis with little or no deferred maintenance noted. Excellent rental history and a solid investment opportunity.
Assumable 6% loan payable at $17,900 per month plus taxes and insurance. 30 Year amortization with a 10 year balloon due January 2012. No prepayment.
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Description of the facilities
# BUILDINGS: 3 buildings all of which are 3 Stories
AGE: Built in 1990
# UNITS: 54 units total, all with 4 bedrooms
# STUDENTS: Licensed for 216 students
EXTERIOR: Brick veneer & vinyl
CONDITION: Above Average
PARKING SPACES: 164 at $135/year
LOCATION: St. Cloud State University Campus Area
STUDENT POPULATION: Approximately 16,000
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