CHERRY STREET COTTAGES

CLICK HERE TO VIEW OFFERING MEMORANDUM

SP Multifamily Group of Marcus & Millichap is pleased to present qualified investors with the opportunity to acquire Cherry Street Cottages. Cherry Street Cottages is located in Springfield, MO and is conveniently situated 0.2 miles from Missouri State University’s Campus. Cherry Street Cottages was built in 2021 and consists of 14 Units and 56 Beds. Each unit is its own standalone cottage which offers a true home feeling for the students attending Missouri State University, Drury University, and Ozarks Technical Community College. Cherry Street Cottage’s interiors boast premium finishes such as stainless-steel appliances, raised panel cabinetry, granite countertops, vinyl plank floors, washer/dryer appliances and bed/bath parity. Cherry Street Cottages offers the opportunity for a new buyer increase the current rents to $725/Bed by furnishing all units and marketing the units to potential tenants as fully furnished units. A new buyer can also utilize the additional fenced in area at the property for additional exterior amenity space such as including an exterior kitchen area, bonfire pit and outdoor furniture set.

Property tours are by appointment only. Please contact one of the listing brokers below to schedule tours.

14 | 56
UNITS | BEDS

22,400
SQFT

2021
YEAR BUILT

PRICED AT
MARKET BID

VITAL PROPERTY DATA

  • Property Addresses: 524 S. Kickapoo Avenue, Springfield, MO

  • NUMBER OF UNITS: 14 Units

  • RENTABLE SQUARE FOOT: 22,400 SF

  • AVERAGE UNIT SIZE: 1,600 SF

  • NUMBER OF BUILDINGS: (14) Residential

  • LOT SIZE: 1.13 Acres +/-

  • FINANCING: Free and Clear

CLASS-A STUDENT HOUSING ASSET WITH RENTAL UPSIDE

  • Unique Class-A Cottage Style Student Housing Asset Consisting of 56-Beds/14-Units Built in 2021

  • Premium Unit Interior Finishes Include Stainless Steel Appliances, Vinyl Plank Floors, Raised Panel Cabinetry, Recessed Lighting and More

  • Value Add Opportunity of Furnishing all Units and Increasing Rents to $725/Bed

  • Ability to Add Additional Exterior Amenities Such as Outdoor Kitchen, Bonfire Pit, and Outdoor Furniture Set in Underutilized Fenced in Area

  • Premier Location only 0.2 Miles from to Missouri State University Which Boasts an Enrollment of 23,504

  • Located 1 Mile from Downtown Springfield’s Restaurants and Retail

PREMIER STUDENT HOUSING LOCATION

  • 2-Minutes to Missouri State University (23,504 Total Enrollment)

  • 2-Minutes to Glenstone Avenue (North/South Retail/Restaurant Corridor)

  • 4-Minutes to Downtown Springfield

  • 4-Minutes to Hammons Field, Home of the Springfield Cardinals

  • 4-Minutes to Ozark Technical Community College

  • 6-Minutes to Drury University

  • 8-Minutes to Mercy Hospital

  • 13-Minutes to Wonders of Wildlife National Museum

  • 23-Minutes to Springfield-Branson National Airport

HUNTSVILLE, TX: AT A GLANCE

  • Home Missouri State University, Ozarks Technical Community College, and Drury University

  • 3rd Largest City in Missouri

  • Population of 169,176 (2020 Census)

  • Unemployment Rate of 2.1% (BLS)

  • 28.7% Projected 10-Year Job Growth (Bestplaces)

  • $63,100 Median Household Income in 2020

  • More than 25,000 Students Within 2 Miles of The Property

DEAL TEAM CONTACTS

Benjamin Skinner
Associate Director | Senior Investment Associate
O. (407) 557-3889
Benjamin.Skinner@marcusmillichap.com

Matthew Prozzillo
Associate Director | Senior Investment Associate
O. (407) 557-3888
Matthew.Prozzillo@marcusmillichap.com

Contact an Agent Listed Above to Schedule Property Tours