Miami Mortgage News

239-233 Whitesell Street

May 16th, 2017 7:24 PM by Nour Ailan

231-233 Whitesell Street

This is a 22 unit student housing (8 Full Unit Rentals and 70 Rentals by the bed), energy efficient complex built in part in 2012 and in part in 2014 on a 1.110 acre lot in a quiet, densely residential, neighborhood. The complex includes 13 five-bedroom three-bath units rented both by the unit and by the bed with about 1,700 square feet of living space per unit and each with a double car, 360 square foot garage; 2 four bedroom two and one half-bath units rented by the unit with about 1,632 square feet of living space and 7 five-bedroom five-bath units rented both by the unit and by the bed with about 1,782 square feet of living space and each with a double car, 370 square foot garage. The units rented by the bed include a monthly cleaning service covered by Landlord. This fee amounts to $25 per month per bed and has cut down drastically on annual pest control and turnover costs that are often high in student housing facilities.

Monmouth is a town in Polk County Oregon with a population of approximately 22,000 residents (2015).The Polk County area is fairly diverse and greatly influenced by an economy dominated by governmental services, agriculture, retail trade, manufacturing, forest products, health services, education and tourism. Monmouth is home to both Western Oregon University and Chemeketa Community College - Eola campus. Western Oregon University is a leading public liberal arts institution with an approximate total enrollment of more than 6,100 students with popular majors such as Business, Criminal Justice, Education, Exercise Science and Psychology. Chemeketa' s 55-acre Eola campus offers comprehensive programs that compliment the agricultural abundance of the valley including horticulture and agri-business management. The area is also characterized by a longer term history of stable, moderate economic growth, with the public' s general attitude toward controlled and planned expansion offering a desirable environment for continued growth and real estate investment. The current significant growth in Western Oregon University also bodes well for the subject' s proposed project.

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