103 Westerly Pkwy State College, PA 16801
- Dormitories
- 936 SF
Current Use by Public Records
- Dormitories
Property Details for 103 Westerly Pkwy
- Property size
- 936 SF
- Property type
- Dormitories
- Property subtype
- Student housing
Description
This exceptional investment opportunity presents a four-unit student housing portfolio ideally situated in State College, Pennsylvania. Priced at $1,300,000, this portfolio offers a compelling 6.50% cap rate and a price per unit of $325,000. The portfolio comprises four properties: two single-family homes, a condo unit, and a double, totaling 936 to 1,975 square feet. Three of the four units are currently leased for the 2024-2025 academic year, ensuring immediate cash flow. All properties are conveniently located within walking or driving distance of Penn State University, capitalizing on the consistently high demand for student rentals in this thriving college town. The properties are zoned residential and represent a strong investment in a dynamic rental market fueled by the approximately 47,000 students and 44,000 employees associated with Penn State University, the largest public university in Pennsylvania and the ninth largest in the U.S. This portfolio offers a rare chance to acquire a well-positioned, income-generating asset in a highly sought-after location. The properties are located at 103 Westerly Pkwy, State College, PA 16801, within Centre County. This is a Class B multifamily investment.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- State College
- County
- Centre
- State
- Pennsylvania
- Longitude
- -77.8507832
- Latitude
- 40.7871298
