48 WEST | STUDENT HOUSING
262 Units | 920 Beds | Grand Valley State University
Overview
- Offering Price Subject to Offer
- Buildings 27
- Total Beds 920
- Zoning PUD
- Total Units 262
- Total RSF 411,644 SF
- Commercial Units 2
- Lot Size 73.32 Acres
48 West is a 262-unit, 920-bed, off-campus, student housing community. located roughly one-mile from the heart of Grand Valley State University in Allendale, Michigan. The property sits directly across the street from University-owned land. Students can be at the heart of campus in a short, 20-minute walk and the property also offers an on-site bus stop and ample parking lot. Downtown Grand Rapids is approximately a 20-minute drive and also can be accessed via an express bus. The Allendale area is a suburban community and much of the small town is within walking distance of 48 west, including a handful of restaurants and bars.
48 West is a Class A student housing property, built in 2008. The village-styled community offers a diverse unit mix of 1-, 2-, and 4– bedroom apartments. The units offer large floor plans and are offered fully-furnished. Leasing is done by the bed. Units are equipped with central A/C, in-unit laundry appliances, hardwood floors and modest kitchen and bath features. The on-site amenities are plentiful including a hot tub, social lounge, game room, 24-hour fitness center, lighted - multi-sport court, tanning center, movie theater and study area. There is also an on-site restaurant within the community. The property is approximately 75% leased for the 2023-2024 school year.
48 West offers various value-add components including unit upgrades, multi-family conversion and land development opportunity. This asset can be purchased free and clear or through a loan assumption process.
*Partnering with Triad Real Estate Partners [Sean Lyons; (slyons@triadpartners.com); Ryan Tobias (rtobias@triadpartners.com)]
