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Northern View 100 Meadow Trail Dr 118 Unit Apartment Building $34,112,640 CAD ($289,090 CAD/Unit) 7.50% Cap Rate Highland Heights, KY 41076
INVESTMENT HIGHLIGHTS
- Outstanding Pedestrian Location
- Minutes from Downtown Cincinnati
- Additional Value-Add Opportunity
- Only Off-Campus Student Housing Option
- Recent CapEx
- Outstanding Performance
EXECUTIVE SUMMARY
Walker & Dunlop Investment Sales, LLC Student Housing, is pleased to present Northern View (“The Property”)
to the national student housing investment community. Northern View is a 118-unit, 328-bed student housing community serving students at Northern Kentucky University (NKU) in Highland Heights, KY.
Originally developed in 1992, Northern View is located across the street from classrooms at Northern Kentucky University. The property offers students spacious two- and three-bedroom units with a pedestrian location to NKU campus and just minutes away from downtown Cincinnati. Since acquiring Northern View in 2017, ownership has invested over $500,000 in numerous capital upgrades and renovations to common areas and unit interiors. The Property is fully stabilized with an excellent operating history and also offers an appealing value-add opportunity to further the upgrades to unit interiors to increase rental rates.
Northern View is the only non-university owned student housing property at NKU with no additional student
housing beds in the development pipeline. Being the only off-campus student housing option available to the almost 15,000 student enrollment at the university offers a highly desirable supply demand scenario for future ownership.
The unit interiors are fully equipped with renovated interiors, modern appliances, washer/dryer and outdoor patios with utilities included. Residents also enjoy the wide array of amenities that include a social courtyard, picnic area and fire pits amongst many others.
NKU, a member of the Horizon League, reclassified in 2016 as a full member Division 1 institution and is ranked #1 best value in the region by The Wall Street Journal. With almost 15,000 students attending, NKU offers over 90 majors and programs with over 200 activities and clubs.
The property is available all-cash to allow a new owner to take advantage of flexible financing opportunities available.
Walker & Dunlop Student welcomes your interest in this exceptional investment offering.
to the national student housing investment community. Northern View is a 118-unit, 328-bed student housing community serving students at Northern Kentucky University (NKU) in Highland Heights, KY.
Originally developed in 1992, Northern View is located across the street from classrooms at Northern Kentucky University. The property offers students spacious two- and three-bedroom units with a pedestrian location to NKU campus and just minutes away from downtown Cincinnati. Since acquiring Northern View in 2017, ownership has invested over $500,000 in numerous capital upgrades and renovations to common areas and unit interiors. The Property is fully stabilized with an excellent operating history and also offers an appealing value-add opportunity to further the upgrades to unit interiors to increase rental rates.
Northern View is the only non-university owned student housing property at NKU with no additional student
housing beds in the development pipeline. Being the only off-campus student housing option available to the almost 15,000 student enrollment at the university offers a highly desirable supply demand scenario for future ownership.
The unit interiors are fully equipped with renovated interiors, modern appliances, washer/dryer and outdoor patios with utilities included. Residents also enjoy the wide array of amenities that include a social courtyard, picnic area and fire pits amongst many others.
NKU, a member of the Horizon League, reclassified in 2016 as a full member Division 1 institution and is ranked #1 best value in the region by The Wall Street Journal. With almost 15,000 students attending, NKU offers over 90 majors and programs with over 200 activities and clubs.
The property is available all-cash to allow a new owner to take advantage of flexible financing opportunities available.
Walker & Dunlop Student welcomes your interest in this exceptional investment offering.
PROPERTY FACTS
| Price | $34,112,640 CAD | Building Class | B |
| Price Per Unit | $289,090 CAD | Lot Size | 11.49 AC |
| Sale Type | Investment | Building Size | 160,346 SF |
| Cap Rate | 7.50% | Average Occupancy | 96% |
| No. Units | 118 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1992/2017 |
| Property Subtype | Apartment | Parking Ratio | 1.98/1,000 SF |
| Apartment Style | Garden |
| Price | $34,112,640 CAD |
| Price Per Unit | $289,090 CAD |
| Sale Type | Investment |
| Cap Rate | 7.50% |
| No. Units | 118 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 11.49 AC |
| Building Size | 160,346 SF |
| Average Occupancy | 96% |
| No. Stories | 2 |
| Year Built/Renovated | 1992/2017 |
| Parking Ratio | 1.98/1,000 SF |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Balcony
- Cable Ready
- Dishwasher
- Disposal
- Storage Space
- Washer/Dryer
- Heating
- Eat-in Kitchen
- Kitchen
- High Speed Internet Access
- Refrigerator
- Oven
- Range
- Tub/Shower
- Carpet
- Wi-Fi
- Freezer
- Patio
- Wheelchair Accessible (Rooms)
SITE AMENITIES
- 24 Hour Access
- Business Center
- Clubhouse
- Courtyard
- Laundry Facilities
- Picnic Area
- Basketball Court
- Breakfast/Coffee Concierge
- Gameroom
- Grill
- Laundry Service
- Media Center/Movie Theatre
- Planned Social Activities
- Walking/Biking Trails
- Storage Space
- Lounge
- Online Services
- Roommate Matching
- Individual Leases Available
- Walk-Up
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+2 | 31 | - | 1,020 |
| 3+2 | 47 | - | 1,020 - 1,160 |
| 3+2.5 | 40 | - | 1,250 |
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PROPERTY TAXES
| Parcel Number | 999-99-32-193.00 | Improvements Assessment | $11,835,160 CAD |
| Land Assessment | $1,129,800 CAD | Total Assessment | $12,964,960 CAD |
PROPERTY TAXES
Parcel Number
999-99-32-193.00
Land Assessment
$1,129,800 CAD
Improvements Assessment
$11,835,160 CAD
Total Assessment
$12,964,960 CAD
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Northern View | 100 Meadow Trail Dr
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