Student Housing Apartment
101 Brookside Avenue Shippensburg, PA 17257
101 Brookside Avenue, Shippensburg, PA, 17257
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For Sale
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Two student housing apartment properties totaling 84 units sit on 7.64 acres near Shippensburg University.
Lot Size7.64 Acres
Days on Market104
Property Features for 101 Brookside Avenue
General Information
- Standard status
- Active
- Lot size
- 7.64 Acres
- Property subtype
- Multifamily
Listing agency
Feldman Ruel
Listed by
Christopher Chadwick · License #VA 0225206248
Source
Crexi
Added: Apr 10 Updated: Jul 22 at 11:59AM Checked: Jul 22 at 11:59AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Feldman Ruel
Investment Insights
Based on property information with market context.
Marcus & Millichap presents the exclusive offering of the Brookside and Madison Court Student Housing Apartments, a two-property portfolio totaling 84 units on 7.64 acres. Brookside Court Apartments includes 24 apartment buildings constructed in 2010, offering 24 three-bedroom, three-bathroom units totaling 72 beds. Madison Court Apartments includes 60 total units constructed in 2008, offering 60 four-bedroom, two-bathroom units totaling 312 beds.
Unit interiors feature open floor plans and modern appliances, including dishwashers, refrigerators, stoves, and microwaves. Newly upgraded units include stone-facing walls, granite countertops, hardwood floors, and tiled kitchen flooring. The offering notes no deferred maintenance, and utilities are built into the tenant’s fixed per-bed pricing. A portion of turnover costs is billed back and removed from the security deposit, including carpet cleaning, painting, and any general damage caused by tenants.
The properties are located less than a mile from Shippensburg University Campus, with easy access to area restaurants and retail and quick access to Interstate-81. At present, the opportunity is presented with a 6.28% cap rate based on current net operating income of $816,928.
Unit interiors feature open floor plans and modern appliances, including dishwashers, refrigerators, stoves, and microwaves. Newly upgraded units include stone-facing walls, granite countertops, hardwood floors, and tiled kitchen flooring. The offering notes no deferred maintenance, and utilities are built into the tenant’s fixed per-bed pricing. A portion of turnover costs is billed back and removed from the security deposit, including carpet cleaning, painting, and any general damage caused by tenants.
The properties are located less than a mile from Shippensburg University Campus, with easy access to area restaurants and retail and quick access to Interstate-81. At present, the opportunity is presented with a 6.28% cap rate based on current net operating income of $816,928.
Key Highlights
- 84 total student housing units on 7.64 acres near Shippensburg University at 101 Brookside Ave and 14 Kenneth Ave
- Brookside Court Apartments: 24 units built in 2010 with 24 three‑bedroom, three‑bath units totaling 72 beds
- Madison Court Apartments: 60 units built in 2008 with 60 four‑bedroom, two‑bath units totaling 312 beds
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FAQs
What type of property is this?
Apartment building - Two student housing apartment properties totaling 84 units sit on 7.64 acres near Shippensburg University.
Where is this apartment building located?
The property is located at 101 Brookside Avenue Shippensburg, PA.
What are key features of this property?
This property features: 84 total student housing units on 7.64 acres near Shippensburg University at 101 Brookside Ave and 14 Kenneth Ave; Brookside Court Apartments: 24 units built in 2010 with 24 three‑bedroom, three‑bath units totaling 72 beds; Madison Court Apartments: 60 units built in 2008 with 60 four‑bedroom, two‑bath units totaling 312 beds
