Lee & Associates is proud to present investors this rare and unique opportunity to own a high-demand student housing duplex a brisk 2-minute walk from University of Miami’s Main Campus. One of only several student housing units in this area, it is perhaps the most convenient off-campus housing available for students and therefore stays occupied by word of mouth alone and commands premium rents. The property is also within walking distance to South Miami’s supermarkets, retailers, and shopping centers, as well as restaurants, nightlife, and entertainment venues. It is also across the street from University of Miami Metro Rail station providing students access to Coconut Grove, Downtown Miami, Dadeland Mall so that a student can save money on car payments and apply it toward rent. If they do have a car (remember UM is a top 40 institution that costs as much as $50k per year in tuition and therefore typically has wealthy students), then there are plenty of onsite parking spaces. The property boasts a total of 7 bedrooms and 4.5 baths broken into a 4 Bed, 2.5 Bath unit, and a 3 Bed, 2 Bath unit. The school automatically profiles its students, so no need for background checks. Student housing in the area has experienced record-breaking demand with the University of Miami seeing a 13.5% increase in applications with 42,000 first-year applicants for fall in the university’s largest freshmen class ever at 2,800 accepted new students for a total of over 18,000 students enrolled in fall 2021. Current ownership has not raised rents since before the pandemic and there is the opportunity to increase rents as much as 30-40% with minimal improvements.
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Multi-Family Space
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