JBM Institutional Multifamily Advisors has exclusively listed Coastal Village student housing apartments in Fort Myers, Florida.
There will be a call for offers on Thursday, August 8th.
This garden-style, concrete block construction, off-campus student housing community is comprised of 200 units (800 beds) averaging 1,384 square feet. Coastal Village is located less than a mile from Florida Gulf Coast University (FGCU) which has a student enrollment of over 16,000.
According to JBM, the property is over 93% pre-leased for Fall 2024 and has 11.2% year-over-year rent growth.
Coastal Village is one of only three purpose-built student housing communities servicing FGCU. It features a comprehensive amenity package including a resort-style pool with an expansive sun deck, 24-hour fully equipped fitness center overlooking the pool, valet trash, grilling stations, hammocks along the lakeside walking trail, and more.
The students have access to private shuttles that run directly to and from the university. The clubhouse is comprised of study rooms, a computer lab with free printing, a media room, high-speed internet, coffee bar and lounge areas.
Every unit has an efficient layout as all floorplans feature full bed/bath parity and are the exact same, fully furnished, 4-bed/4-bath layout. There are four different degrees of upgrades, with the fully renovated units feature granite countertops, stainless steel appliances, flat- panel white cabinetry, single-basin, undermount sink, tile backsplash, and faux wood plank flooring throughout. There is major upside to bring all floorplans up to the highest-level of upgrades by implementing a unit interior renovation program.
Coastal Village is located only one mile away from FGCU with a student enrollment of 16,000+ and 1,500+ employees.
The property has exceptional connectivity to Interstate-75 with proximate access to Three Oaks Parkway, Alico Road, Ben Hill Griffin Parkway, and U.S. Highway 41. This provides access to major shopping destinations and retail options such as The Miromar Outlets and The Gulf Coast Town Center just two miles away.
