Kutztown Student Housing 2 biens • Immeuble residentiel • À vendre 5 301 720 $ CAD • Kutztown, PA

SCOPE is pleased to present the exclusive opportunity to acquire 418-424 W Main St, a student housing investment pedestrian to Kutztown University. The offering consists of fifty-six beds spread over twelve spacious units located at 418, 420, 422, and 424 W Main Street at a single location, as well as 445 Normal Avenue. The apartment units are leased to students, while the home is occupied by a long-term non-student resident. Student leases are structured on a 10-month academic-year basis, while the home operates on a month-to-month lease and has been occupied by the current tenant for about 2.5 years.
The subject property is currently 100% pre-leased for the 2026-2027 academic year. All units are fully furnished and include living-room, kitchen, and bedroom furniture, full-size beds and mattresses, in-unit washers and dryers, and large flat screen televisions in the common living areas. Students may elect either all-inclusive utility leases or tenant-paid utility leases. Tenants with all-inclusive packages pay an additional $400 per person, per semester, subject to a utility allowance cap with any overages paid by tenants. Tenants electing to pay utilities separately are responsible for water, sewer, and electric, while tenants at 424 W Main Street are additionally responsible for gas heat. Ownership provides internet and trash service for all units.
Ample tenant parking is available at the rear of the property and features two dedicated lots, providing sufficient capacity for all residents. New tenants pay an annual parking registration fee of $100 per academic year, while returning tenants receive complimentary parking.
Under current ownership, the apartment units underwent a complete renovation in 2006, including the addition of a third floor. Ownership has continued to reinvest in the asset through ongoing capital improvements, including several HVAC upgrades, replacement of washer and dryer units, and periodic appliance upgrades as needed. The residence on 445 Normal Ave is a three-bedroom, two-bathroom home that underwent comprehensive renovation in 2023. The properties have been professionally maintained and present minimal deferred maintenance.
Student housing properties in close proximity to its university typically pre-lease first and provide investors with stable returns as evidenced by the historic 100% occupancy over the last twenty years.