Updated Oct 29, 2024
Maverick Apartments LLC Sells 480-Bed Student Housing In Shippensburg, Pennsylvania For $13.3M
2 Morningstar Lane Shippensburg, Pennsylvania 17257, USA
$13,300,000
Building Size
—
Asset Type
Student Housing
Closing
Aug 31, 2023
About this deal
AI
Located in Shippensburg, Pennsylvania, the Maverick Apartments student housing community has been sold by Maverick Apartments LLC for a price of $13.3 million. The property, sprawling across 12.6 acres, consists of 480 beds and underwent $1.5 million worth of renovations after being acquired in 2021.
Summary of transaction details
- Property Type: Student Housing
- Transaction Amount: $13,300,000
- Address: 2 Morningstar Lane, Shippensburg, Pennsylvania
- Market: Shippensburg, Pennsylvania
- Total Acres: 12.6
The sale of the Maverick Apartments student housing community was facilitated by Fahd Malik from Scope Commercial Real Estate Services, serving as the broker for Maverick Apartments LLC. This transaction marks a successful collaboration between the seller and Mr. Malik, contributing to the dynamic real estate market in Shippensburg, Pennsylvania.
On the Map
$13,300,000
Student Housing
View full map
Players
Shippensburg Student Housing Market Snapshot
Boundary boundary · Student Housing · Sale transactions
Loading comparables…
Deal FAQ
Browse Pennsylvania student housing sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.19%
Cash-on-Cash
-0.34%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93