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8- Bedroom Student Housing Earning 10% Cap Rate In Niagara Falls, Usa

Not on MLS®

$380,000

For Sale: in

Updated Jul 5, 2022
8- Bedroom Student Housing Earning 10% Cap Rate In Niagara Falls, USA

Listing Details

Co-op commission:

Subtype: Student Housing

Year built: 1955

Year renovated: 1965

Total building size (sq. ft.): 1968

Units: 8

Parking spaces: 6

Floors: 2

Beds: 8

Baths: 3

Lot Size: 0.39 Acres

Financial Details

Net operating income: $36,300

Percent leased: 100%

Cap rate: 9.6%

Description

8-Bedroom student housing property in Niagara Falls, USA, within walking distance to Niagara University, asking $380,000 USD. Fully leased to 8 students at $420 USD/person/month, who pay for hydro and heating, grossing $40,320 USD per year. Landlord pays for water and property taxes, which are approximately $4000 USD per year. NOI is approximately $36,320 USD per year, resulting in a 9.6% cap rate. Such cap rates would not be possible at this scale in Canada due to over-inflated residential property prices. Take advantage of the low exchange rates and start making serious cash flows. Principals and cash buyers preferred.

Location & nearby

This listing is located in Niagara Falls, ON

USA

Mya Qi

REALTOR®
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