NC STATE STUDENT HOUSING PORTFOLIO

Deaton GREA is pleased to present, as the exclusive listing broker for the seller, a luxury, student-housing portfolio in the heart of Raleigh at NC State University. The 24-unit, 101-bedroom portfolio is comprised of ten, single-family homes and 14, townhomes located less than one mile from campus. The 11 parcels are contiguous, and represent a rare opportunity to acquire a boutique, student asset built with luxury finishes, at a power-five university. The property is 100% leased for the 2024-25 school year. The leases are by-the-unit, with an average, in-place rent equal to $993 per bed.

The ten, single families homes were built between 2018 and 2022 and feature a 50/50 mix of 4- and 5-bedroom floor plans. The 14 townhomes are located directly behind the single-family houses. The townhomes all feature 4-bed and 4-bath, three-story floor plans and were completed in 2023. Current ownership developed and built these properties with meticulous care and attention to detail. All of the units feature high-level finishes including hardwood floors, LVP flooring, tile bathroom floors and showers, granite counters, stainless steel appliances, ceiling fans in all rooms, recessed lighting, tankless water heaters, energy efficient windows, and more. Every property has a minimum of one parking spot for every bedroom.

Located west of downtown Raleigh, NC State University is a power-five university with more than 38,000 students and 10,000 employees. Today, 137 years after its founding, NC State is North Carolina’s largest university and continues to grow. Fueled by its status as a prestigious Research 1 institution, NC State is recognized nationwide for groundbreaking discoveries, an outstanding academic reputation, and elite athletic programs.