The Grad Student Housing_Imóvel à venda
The Grad Student Housing_Imóvel à venda
88 East San Carlos Street, San Jose, CA, 95112, US

The Grad Student Housing

Descrição do ativo

Jones Lang LaSalle, Inc (“JLL”) is pleased to present the opportunity to acquire The Grad (the “Property”), a 94% occupied, trophy student housing property located steps from San Jose State University (“SJSU” or “San Jose State”) located in San Jose, California.


Winning numerous residential design awards, The Grad is a LEED-certified, tech-savvy community that sets a new standard for purpose-built student housing communities nationally. The Grad contains 260-units, 1,002-beds with a balanced unit mix of studios, 2-, 3-, and 4-bedroom units as well as 14,889 square feet of ground floor commercial space. The interior units feature luxurious, modern finishes including quartz countertops, stainless steel GE appliances, and a midcentury modern furniture package. Smart thermostats in each unit, smart lock unit entry and 50” smart TVs provide residents all the luxuries of modern living.


In addition to well-appointed units, residents of the property enjoy unique resort-style community areas and amenities. With a three-quarter-acre amenity deck featuring a luxurious pool and jumbotron, as well as private study rooms on every residential floor, residents get the best of both worlds; a place to relax and unwind as well as a private area to study in a quiet setting. Furthermore, residents are provided a true “one stop shop” with 14,889 square feet of ground floor retail space and ease of access to numerous restaurants and retailers steps away in downtown San Jose.


The Grad is located less than a block from San Jose State University with direct access to campus via Paseo de San Carlos, the main walkway on campus. Due to its exceptional location, unmatched design standard, and limited competing properties in the market, The Grad offers investors a core student housing opportunity in the fastest growing urban market at a discount to replacement cost. Investors are offered the ability to generate nearly $1.5M of additional revenue by introducing 46 additional double occupancy beds as well as through leasing the remaining ground floor retail suites.

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Atributos

Ano de construção
2020
Número de unidades
260 unidades
Ocupação
94%
Área de terreno bruta
0,61 ha

Mídia

Destaques do investimento

  • Winning the 2019 PCBC Silicon Valley Structures Award and 2021 PCBC’s Gold Nugget Award for Best Student Housing Property, The Grad sets a new standard for student housing nationally with unmatched amenities and luxurious interior units.


  • With a blue-chip location in Downtown San Jose adjacent to San Jose State University (SJSU), The Grad has a 96 and 92 rating for Walker and Biker’s Paradise score, respectively. Due to its prime location, The Grad offer residents ease of access to SJSU, numerous restaurants and retailers in Downtown San Jose, and ease of access to the greater Bay Area due to its location adjacent to a VTA stop.


  • Currently 94% occupied, The Grad offers investors a newly built, stable property with approximately $1.5M of additional upside in leasing the remaining ground floor retail and in adding 46 double occupancy beds at the property.


  • Built to the highest design standards, The Grad offers investors a risk-adjusted opportunity expected to transact at a discount to replacement cost. Well-located in the #3 largest MSA in the U.S. in terms of GDP, San Jose is the heart of Silicon Valley with more than 6,600 technology companies. With numerous engineering programs in the top 10 rankings nationally, SJSU is ranked as the #1 University in the U.S. for “Most Silicon Valley Hires."
The Grad Student Housing 4_Imóvel à venda
The Grad Student Housing 4_Imóvel à venda

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Última atualização
May 7, 2024