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Waterford Place 400 S Grant St 22 Unit Apartment Building $5,798,772 CAD ($263,581 CAD/Unit) 6.33% Cap Rate West Lafayette, IN 47906
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Investment Highlights
- True on-campus Purdue University student housing investment defined by purpose-built design, by-the-bedroom leasing, and durable income stability.
- Embedded value-add potential through underutilized space, providing an opportunity to develop two additional units and enhance long-term returns.
- Durable, recession-resistant student housing model providing predictable cash flow and reduced downside risk across economic cycles.
- Extremely high demand supported by walk-to-campus access, enrollment certainty, & a structurally limited supply of on-site Purdue student housing.
- Three-story, 22-unit multifamily asset featuring 21 2-bedroom/1-bath units & a studio unit, totaling 43 bedrooms optimized for residents and revenue.
Executive Summary
Sweet Home Realty is proud to present Waterford Place, located at 400 S Grant Street, a rare true on-campus student housing investment situated within Purdue University. Purpose-built, the property is optimized for student housing and has an ideal layout for a by-the-bedroom leasing strategy.
Waterford Place is a three-story multifamily apartment complex with 22 units, 21 configured as two bedrooms and one bath, and one studio, totaling 43 bedrooms. Additional value-add potential exists through currently underutilized space, offering the ability to develop up to two additional units. Situated within the south-central portion of Purdue University’s West Lafayette campus along S Grant Street, the property is within walking distance of many academic buildings, dining halls, libraries, the Mitchell E. Daniels Jr. School of Business (Rawls Hall), and the Purdue Memorial Union.
Extremely high demand for these units is driven by certainty, proximity, and the limited supply of Purdue student housing. There is consistent leasing velocity at Waterford Place, resulting in little to no vacancy and supported by ongoing enrollment, making this a durable, recession-resistant, and stabilized student housing asset with a more predictable cash flow.
Delivering a rare combination of genuine on-campus living, consistent leasing velocity, and growing enrollment, Waterford Place offers a durable, recession-resistant asset with predictable cash flow and supports long-term income stability.
Waterford Place is a three-story multifamily apartment complex with 22 units, 21 configured as two bedrooms and one bath, and one studio, totaling 43 bedrooms. Additional value-add potential exists through currently underutilized space, offering the ability to develop up to two additional units. Situated within the south-central portion of Purdue University’s West Lafayette campus along S Grant Street, the property is within walking distance of many academic buildings, dining halls, libraries, the Mitchell E. Daniels Jr. School of Business (Rawls Hall), and the Purdue Memorial Union.
Extremely high demand for these units is driven by certainty, proximity, and the limited supply of Purdue student housing. There is consistent leasing velocity at Waterford Place, resulting in little to no vacancy and supported by ongoing enrollment, making this a durable, recession-resistant, and stabilized student housing asset with a more predictable cash flow.
Delivering a rare combination of genuine on-campus living, consistent leasing velocity, and growing enrollment, Waterford Place offers a durable, recession-resistant asset with predictable cash flow and supports long-term income stability.
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Property Facts
Amenities
Unit Amenities
- Air Conditioning
- Disposal
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
Site Amenities
- Controlled Access
- Laundry Facilities
- Wi-Fi
- Roommate Matching
- Walk To Campus
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | - | 340 |
| 2+1 | 21 | - | 650 |
1 1
Moderately walkable
60/100
Very drivable
80/100
Some public transit
50/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 79-07-19-480-007.000-026 | Improvements Assessment | $891,441 CAD |
| Land Assessment | $2,315,091 CAD | Total Assessment | $3,206,532 CAD |
Property Taxes
Parcel Number
79-07-19-480-007.000-026
Land Assessment
$2,315,091 CAD
Improvements Assessment
$891,441 CAD
Total Assessment
$3,206,532 CAD
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Sweet Home Realty
Waterford Place | 400 S Grant St
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