EWING TOWNSHIP STUDENT HOUSING PORTFOLIO
"High-Yield Student Housing | Stable Demand, Recession-Resistant Tenancy"
Marketing description
This Offering Memorandum presents a rare opportunity to acquire a fully stabilized, income-producing student housing portfolio in Ewing Township, New Jersey. The portfolio comprises three residential properties totaling 49 beds, strategically located within close proximity to The College of New Jersey (TCNJ) and Rider University — two of New Jersey's premier institutions of higher education with a combined enrollment exceeding 12,000 students.
The portfolio is 100% leased for the 2025–2026 academic year with signed leases and security deposits in place, providing an acquiring investor with immediate, day-one cash flow and zero lease-up risk. Rents are collected on a per-bedroom basis at rates significantly above standard residential market rents in Mercer County, reflecting the premium pricing power inherent to student housing proximate to high-demand campuses.
Investment highlights
- 100% Leased — Zero Vacancy Risk - All units are leased through May 2026 with executed lease agreements and security deposits collected. The acquiring investor steps into a fully performing asset from day one.
- 2026–2027 Academic Year — 100% Pre-Leased - All three properties are fully leased for the 2026–2027 academic year with executed lease agreements and security deposits in place, providing an acquiring investor with multi-year revenue certainty.
- Captive Demand — Proximity to TCNJ & Rider University - Located minutes from two major universities with combined enrollment exceeding 12,000 students. Student housing demand in this submarket has remained consistently strong with minimal cyclical risk.
- Above-Market Per-Bedroom Rents - The Pennington Road properties command $1,185–$1,291 per bedroom per month, substantially above conventional residential rents in Mercer County, reflecting the premium nature of the student housing asset class.
- Stable, Predictable Cash Flow - Student leases are typically co-signed by parents/guarantors, providing an additional layer of credit support. Leases are executed well in advance of each academic year, creating exceptional revenue visibility.
- Value-Add Opportunity at 9 Penwood - 9 Penwood Drive is currently underrented relative to the Pennington Road properties. Bringing rents to market rate represents an identifiable path to $20,000+ in incremental annual NOI, adding approximately $250,000–$300,000 in asset value at prevailing cap rates.
- Established Operating History - The portfolio has a multi-year track record of stable occupancy and consistent rental income, with experienced management systems already in place.
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