STUDENT HOUSING PORTFOLIO AT WAKE FOREST UNIVERSITY

Price:

$2,650,000

Status:

Available

Address:

1307 Polo Rd, Winston-Salem, NC 27106, USA

Overview:

Deaton Investment Real Estate is pleased to present the exclusive listing of ten, single-family rentals in Winston-Salem, North Carolina on the edge of Wake Forest University (WFU). Ranked the 27th best educational institution in the nation, WFU has an enrollment of 8,500 and more than 6,200 full-time faculty and staff. Winston-Salem has an estimated population of $247,945 and is the fifth most populous city in North Carolina.

The homes are located within walking distance of WFU and 100% leased for the 2020-21 school year with a total monthly rent roll of $25,815. There are a total of 41 bedrooms with an average rent of $630 per-bed. The current owner completed more than $360,000 of capital improvements in 2016 to renovate and update the homes, including the installation of stainless steel appliances and granite counter tops.

This is a great opportunity to acquire a stabilized, student-housing portfolio in a thriving market.

Unit Information

UnitTypeSizeRent
10 HOMES, SEE RENT ROLL3-, 4- AND 5-BEDROOM1,288 - 2,380 SF$28,815 TOTAL PER MONTH

Property Information

PIN SEE EXHIBIT Tax Value $1,352,100
Taxes $18,806.38 Lot Size .20 - .76 ACRES
Year Built 1934 - 1990 Exterior BRICK, WOOD, HARDBOARD, VINYL, ASBESTOS
Floors HARDWOOD, TILE, VINYL, CARPET Foundation CRAWL, BASEMENT
HVAC CENTRAL AIR Owner Financing NONE
Utilities PAID BY TENANTS Appliances RANGE, REFRIGERATOR, DISHWASHER, MICROWAVE, WASHER & DRYER
Legal Description SEE EXHIBIT Zoning RES