2070 Sprigg St Cape Girardeau, MO 63701

This exceptional 281-unit student housing complex, totaling 248,038 square feet, presents a compelling investment opportunity. Built in 2018, the property boasts seven four-story buildings situated on a 15.43-acre lot in Cape Girardeau, Missouri (APN: 16-707-00-01-002.00-0000). Located just one mile from Southeast Missouri State University (SEMO), this stabilized asset enjoys a 95% occupancy rate as of November 15, 2024, and benefits from a desirable unit mix of one, two, and four-bedroom apartments, all with bed-bath parity. SEMO, with its 9,500 students, provides a consistent demand pool within a thriving community of over 80,000 residents in Cape Girardeau County. The property's strategic location and strong performance make it a rare and highly sought-after asset in a market with limited comparable student housing options, virtually eliminating supply risk. The fall 2024 freshman class saw the largest year-over-year increase since 2015, further solidifying the property's long-term potential. This is a best-in-class, stabilized investment in a dynamic and growing market.