U Club Sunnyside - West Virginia University_Property for Sale
U Club Sunnyside - West Virginia University_Property for Sale
2188 University Avenue, Morgantown, WV, 26505, US

U Club Sunnyside - West Virginia University

Asset Description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to present U Club Sunnyside (“U Club” or the “Property”), a 134 unit / 534 bed student housing Property in Morgantown, West Virginia. The Property serves the student body population of West Virginia University (the “University” or “WVU”), the Flagship, Land-Grant University of West Virginia. Located in the heart of Morgantown, just 0.26 miles from campus, the Property provides students with premier access to campus and the surrounding Sunnyside neighborhood.


U Club Sunnyside is the newest-built student housing property in Morgantown and consistently performs at the top of the market. The Property is currently 90.4% occupied for the 23/24 academic year (“AY”) and 84.3% preleased for the 24/25 AY, 9.8% above the market average as of May 2024.


The Property is the highest quality student housing asset in the market, offering students modern and thoughtfully designed living spaces, featuring contemporary finishes such as hardwood-style flooring and stainless steel appliances. Furthermore, its extensive array of amenities including a state-of- the-art fitness center, pool and hot tub, game room, and student lounges make it an attractive choice for students seeking a comfortable and upscale living environment.


With its combination of strong asset performance, premier location, and luxurious accommodations, U Club presents a healthy cash-flowing opportunity at an attractive basis to investors.


West Virginia Contact:

Dan Adamski

412.212.8090

Dan.Adamski@jll.com

License #: WV0028471

...

Attributes

Year built
2016
Number of units
134 units
Beds
534
Occupancy
90.4%
Call for offers
10/07/2024

Media

Investment Highlights

WEST VIRGINIA’S FLAGSHIP, LAND-GRANT UNIVERSITY

U Club Sunnyside serves West Virginia University, the Flagship, Power 5, Land-Grant University of West Virginia. Established in 1867, WVU is known for its diverse academic offerings, vibrant campus community, and strong commitment to research and innovation. The University’s commitment to research has led it to achieve Carnegie R1 status. With over 24,000 students enrolled across 13 colleges and 190 degree programs, WVU offers a wide range of undergraduate, graduate, and professional degree programs.


STRONG ASSET PERFORMANCE

The Property is currently 84.3% preleased as of May 2024, surpassing the market average by 9.8%. With no additional student housing supply in construction or planning phases, U Club’s position as the top asset in the market is expected to continue for the foreseeable future.


PREMIER LOCATION

U Club Sunnyside’s premier location, walkable to main campus, sets it apart from other properties in the market, where 80% of the off-campus beds are not pedestrian to campus. Situated a mere 0.26 miles from the campus, it is one of the best-located properties available to students. Its prime position in the center of the Sunnyside neighborhood makes it exceptionally convenient for students, as it is equidistant from both sides of WVU’s campuses. With such proximity, students enjoy easy access to their classes, as well as nearby retailers, ensuring a seamless living experience.


OPPORTUNITY TO TRANSITION LEASE START DATES FOR MAXIMUM MARKET CAPTURE

U Club Sunnyside currently operates on a 12-month lease structure from May to May. However, the majority of the WVU student housing market offers leases with August start dates. Although U Club does offer 10-month leases starting in August, they come at a premium for residents. A potential buyer has the opportunity to capitalize on the summer market demand by strategically introducing new leases beginning in August.


LUXURY STUDENT PROPERTY

As the newest purpose-built student housing property in the WVU market, U Club Sunnyside appeals to students seeking modern and well-designed living spaces. The units at the Property highlight contemporary finishes, including impressive features such as hardwood-style flooring and stainless steel appliances. Moreover, the Property offers an unmatched set of amenities, such as a state-of-the-art fitness center, a pool and hot tub, a game room, and inviting student lounges. Through its commitment to providing top-notch facilities, U Club Sunnyside continually solidifies its position as a premier choice among students looking for a luxurious and comfortable living experience.

U Club Sunnyside - West Virginia University 4_Property for Sale
U Club Sunnyside - West Virginia University 4_Property for Sale

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U Club Sunnyside - West Virginia University (0 Properties)

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Last updated
19 Jun 2024