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Matthews Real Estate Investment Services Brokers $5.9M Sale Of Student Housing Near University Of West Georgia

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SOLD
$5,900,000

Georgia

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Student Housing37,760 SF
Sold 01/17/2024
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SOLD

Matthews Real Estate Investment Services Brokers $5.9M Sale Of Student Housing Near University Of West Georgia

324 Brumbelow Road

See Similar Deals
Student Housing37,760 SF
Sold 01/17/2024
Contact now

Summary

GEORGIA
Asset Type:Student Housing
Price Per Square Foot:$156
Total Square Footage:37,760 SF
Transaction Type:Sale

The Cottages UWG, a 26-unit student housing community near the University of West Georgia campus in Carrollton, has been sold for $5.9 million. This property is located at 324 Brumbelow Road and spans across 37,760 square feet. The sale price equates to approximately $156 per square foot. With an average price per unit of $226,923, this student housing asset stands as an attractive investment opportunity in the Carrollton, GA market.

Summary of Transaction Details

  • Property Type: Student Housing
  • Transaction Amount: $5,900,000
  • Address: 324 Brumbelow Road
  • Market: Carrollton, GA
  • Units: 26
  • Price per Unit: $226,923
  • Square Footage: 37,760
  • Price per Square Foot: $156

Austin Graham, representing Matthews Real Estate Investment Services, served as the broker for this successful transaction. By facilitating the sale of The Cottages UWG, Austin Graham played a pivotal role in connecting the buyer and seller of this student housing community. Matthews Real Estate Investment Services continues to demonstrate their expertise in brokering deals within the Carrollton, GA market.

Players

Austin Graham
8 deals$78.2M volume
BROKER

Details

SOLD
IMAGE: Austin Graham DATE: 01/17/2024 ADDRESS: 324 Brumbelow Road MARKET: Carrollton, GA ASSET TYPE: Student Housing BROKER: Austin Graham - Matthews Real Estate Investment Services SALE PRICE: $5,900,000 UNITS: 26 ~ PPU: $226,923 SF: 37,760 ~ PPSF: $156 NOTE: Matthews Real Estate Investment Services has successfully brokered the $5.9 million sale of The Cottages UWG, a 26-unit student housing community near the University of West Georgia campus in Carrollton.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$314,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$20,961.45
Cash-on-Cash Return-1.27%
Monthly Debt Service$27,969.01
Annual Debt Service$335,628.12