We looked at commercial real estate sales in February & a lot of our clients focus on student rental properties in Waterloo; let’s have a look at some recent transactions:
3 properties on Bricker Avenue, directly across from Wilfrid Laurier University (WLU) sold for $8,450,000. There were 143 beds in the 3 properties, and per room revenues were lower than other comparably located properties.
A duplex on Hickory Street , very close to WLU, just sold at $630,000, after being on the market for 30 days. The property is licenced for 10 students.
A 10 bedroom licenced lodging home on Regina sold for $550,000
Two detached 5 bedroom homes recently sold, both for above their asking prices. One sold at $333,500, the other traded at $336,000, 11K above the list price. A client offered on one of these, but we felt the properties were not worth the above list price premium being paid. You have to know when to walk away!
A few licenced condo units have sold recently. One traded at $228,000, another at $186,000
If you have any questions about how you can start investing in student housing, email me at Benjamin@BenjaminBach.com or call me at 519-772-4376
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