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Value Add Student House Opportunity 

 

  • Walking Distance to Campus
    • Brookstone Apartments is one of the closest off-campus student housing assets to Valdosta State University (VSU), only a 0.5-mile walk to the main section of campus. The asset is ideally situated between VSU, Downtown Valdosta, and the Valdosta Mall Retail Area allowing students quick access to classes, restaurants, jobs, and shopping.
  • Value-Add Opportunity
    • New investors will inherit a well-maintained asset that has recently received a capital infusion of new roofs, exterior paint, gutters, and new furniture in select units. The interiors of the units are well kept, and new investors will have the opportunity to complete minor interior renovations to further increase demand at the property and ability to push market rents.
  • Enrollment and Retention Growth
    • VSU’s Fall 2016 new student enrollment increased 9.5% from Fall 2015, and the University’s current master plan includes focusing on increasing freshman-to-sophomore-year retention by 13%. Also, the University plans on increasing on-time progression by 10% and the six-year graduation rate for all students by 10%. Year over year enrollment growth is experiencing upward trends for graduate students while undergraduate enrollment growth has stayed constant.  These factors, coupled with the planned increased retention rates, outlines how student housing will see a definite increase in demand and Brookstone is supremely positioned to capture future demand and organic rent growth.

 

Executive Summary

RealINSIGHT Marketplace and Capstone Apartment Partners are pleased to offer the opportunity to acquire Brookstone Apartments: a 120-bed/30-unit garden-style apartment community conveniently located within steps of Valdosta State University (VSU) in Valdosta, Georgia.

Brookstone offers an ideally located, campus adjacent, housing option for VSU students and provides all the interior features that student residents demand. The four bed, four bath units offer walk-in closets, private individual bathrooms, fully equipped kitchens, all necessary furniture, full-size washers and dryers, and private balconies or patios. The asset provides a refreshing interior aesthetic while also offering new ownership the opportunity to further improve unit interiors increase market rents.

Valdosta State University enrolled a total of 11,341 students in Fall of 2017. VSU became a comprehensive university within the University System of Georgia in 2013 and now offers fifty-five (55) bachelor programs, thirty-eight (38) master programs, and five (5) doctoral programs. The current strategic plan for the University includes increasing the number of graduation and retention rates, facilitating experiential learning opportunities, and enhancing impact in their region.

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Disclaimer: The information being provided herein is for informational purposes only. No representation or warranty is made as to the accuracy or completeness of any information contained herein, including, without limitation, any information regarding the condition of the Property, the condition of title or Property descriptions.

Any documents and/or pictures posted herein or elsewhere on the RealINSIGHT Marketplace, (the "Website") are for informational purposes only, and may not represent the current condition of the Property or the condition of the Property at the time of sale. The posting of pictures herein or elsewhere on the Website does not constitute a guarantee that any items represented in the pictures will be present when the buyer takes possession of the Property.

You are encouraged to conduct your own due diligence and investigate all matters relating to the Property. It is recommended that you seek independent advice, including legal advice, to perform your due diligence and that you use good faith efforts in determining that the content of all information provided to or obtained by you is accurate.

Brookstone Apartments

1106 Slater Street, Valdosta, GA 31601

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Asset Snapshot

  • Asset Type
  • Real Estate
  •  
  • Multifamily Type
  • Student Housing
  • Property Size
  • 30 Units
  • Bed Count
  • 120
  • Land Area
  • 2.35 Acres
  • Year Built
  • 1997
  • Number of Floors
  • 2
  • Number of Buildings
  • 5
  • Parking Count
  • 111
  • Occupancy
  • 99.00%
  • Occupancy as of
  • Sep 01, 2018
  • Platform Fee

    Platform fee for this transaction is 5.00% or a minimum of $25,000.

  • Auctioneer

    1. Lamar P. Fisher

      Fisher Auction Company Inc.

      License: #AUNR003157