Ohana Hale Residences is a fully permitted, shovel-ready 6,393 SF student housing development opportunity with a carrier SFR. The project's student housing income model of 27 leasable beds at a blended market rent of $1,800 per bed per month may produce a Stabilized Pro Forma Gross Income of $618,924 with… Read More NOI of $378,659 at a selected 5.00% cap rate exceeding typical investor expectations for newly constructed UCSC-proximate housing, represents an acquisition and construction at a compelling discount with major developer upside embedded in the as-completed spread. The project is designed as a purpose-built, fully furnished student rental to serve the robust and chronically undersupplied UCSC off-campus housing market, located approximately one mile from the main university entrance. Operating on a per-bed lease model across five three-bedroom units, the project is structured to function as an institutional-grade student housing product at a mid-market investor scale: a rare combination in the Santa Cruz County market. This rare offering provides an investor with the ability to acquire fully entitled, permit-ready land with approved plans for a new student housing project featuring 27 beds and 12 bathrooms without the time and cost of navigating the complex entitlement process. Read Less
Property listed by David Lyng Real Estate, Troy Hinds 310-259-7556
Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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