Living / Multi-housing

11th Street Flats

1722 S 11th St Waco, Texas United States 76706-2222
Asking Price Contact for pricing
Area Size
NOI Net Operating Income N/A
NIY N/A

Documents

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Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Attributes

Year Built 2015
Building Area Net
Number of units 45
Occupancy 100.0 %

Asset Description

Jones Lang LaSalle, L.P. and JLL Real Estate Limited proudly present 11th Street Flats. 11th Street Flats is a 45 Unit/134 Bed student housing property located within walking distance to Baylor University, inside the "Baylor Bubble". Baylor’s Fall 2021 enrollment hit a record high of 19,683 students and is projected to grow by 1.7% annually. With no supply in the development pipeline, the bed-to-student ratio is expected to dip below 60% in the coming years as enrollment is projected to grow by about 350 students annually. New investors are offered the opportunity to invest in an asset that provides consistent cash flow at a Tier-1, Power-5 University located in the booming state of Texas.  

Investment Highlights

  • 100% master leased by Baylor University through Fall 2023 with extension option.
  • Rents currently $168 behind competitive set, allowing for significant rent growth once master lease expires.
  • Zero supply in pipeline with significant enrollment growth.
  • Located within the “Baylor Bubble” allowing students the ability to walk to campus, nightlife, and McLane Stadium.
Last Updated Date: 31 Mar 2022

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Last Updated Date: 31 Mar 2022

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