Ducks Village
Closed3225 Kinsrow Avenue, Eugene, OR 97401
Property type
Student Housing
Unit / Space count
230
Price
$59,150,000
Building size
245,100 sf
Rentable area
245,100 SF
Year built
1995
Year renovated
Occupancy
Zoning code
Sold/status
Sold · Date unknown
Sale price
$59150000
Bedroom count
Property description
Ducks Village is a 230-unit, 650-bed purpose-built student housing community developed in 1995. Ducks Village's amenities make it stand out in the market. It offers a state-of-the-art fitness center, recently renovated clubhouse, resort-style swimming pool, large outdoor spa, TV lounge, computer lab, fire pits, laundry facilities, tanning booth, two basketball courts, sand volleyball court, and on-site maintenance and management. Ducks Village sits adjacent to the University of Oregon, which just welcomed its largest-ever freshman class of over 4,600 students. Current ownership has invested a significant amount of capital since 2014 which includes roof replacements on all 22 buildings, siding renovations on all 20 residential buildings, a major clubhouse renovation, washer and dryer installation in 48 units, and interior renovations of 7 of the 20 residential buildings (75 of the 230 units). The current renovated units include new carpet, new furniture, new kitchen appliances, and more. It would make a lot of sense for an investor to continue interior renovations of the remaining 13 residential buildings (155 units) over a three-year period. The direct student comparables offer anywhere from $300 to $1,000 more in rent per unit for a one-, two-, three- and four-bedroom unit. This offering represents an incredible opportunity for an investor searching for value-add with enormous upside potential. Disclaimer: This transaction was completed prior to the student housing team joining Franklin Street and does not reflect assignments managed under Franklin Street's oversight.