DCAP and its syndicate partner, Kahuna Investments, is pleased to present University Village Apartments in Slippery Rock, PA. This 200 unit, 632 bed, property is a B-class asset in an A-class area and has many strong attributes that make this opportunity desirable:
Serves the expanding Slippery Rock University with over 8,500 students and other smaller community colleges.
Currently 94.6% leased as of February 2022. Several luxurious amenities and contemporary apartment features. Strong cashflow starting on day 1 with a true value add opportunity.
Built in 2007, University Village is an incredible, well-kept property making it desirable for students and yet provides opportunities to increase income with our $1.6 million capital improvement budget. The planned updates will allow us to obtain a $45 per bed premium in rents and include: LVP Flooring, Paint Stainless Steel appliances, Solid surface countertops, Refreshed Cabinets, and updated color scheme
Our CapEx plan, along with our sophisticated property management strategy will allow us to sustain positive NOI growth every year and meet the growing needs in the community for safe, spacious and disciplined student living.