Three College Town Properties on the Market Now

Ready to be a landlord? Chances are, your perfect property is on the market now.

This week we showed you data suggesting college towns make good investments for landlords, because such towns constantly draw people, commerce, industry, innovation, culture and, consequently, tenants.

From the ZipRealty home search, we pulled three listings that might be good choices for someone considering a purchasing a property that can be used to generate rental income. Each property listed comes from one of the college towns we highlighted in our market analysis of college town real estate on Monday: Berkeley and Palo Alto, CA and Cambridge, MA.

Berkeley, CA

Close to the best of Berkeley’s hub and to UC Berkeley is this unique live/work condo at 2430 5th Street.  Part loft/part studio, the unit would make an enticing rental. The vitals:

 

List Price $355,000
Est. Payment $1,702
HOA Dues $444 (MONTHLY)
Listed 04/06/11
Beds 1
Full Baths 2
Partial Baths 0
Property Type CONDO
Sq. Ft. 1,505
$/Sq. Ft. $236
Lot Size N/A
Year Built 1999
Source MAX Multiple Listing Service
MLS # 40518091
Views 15
Popularity 4/10

And a photo of the interior:

Berkeley loft

Perfect for an artist

 See all homes for sale in the Berkeley Area

Palo Alto, CA

Near Stanford is 2108-2122 Williams St., a multi-unit building: specifically, six separate units. Not cheap to buy, of course, but multiple apartments=multiple sources of income, and since this building is so close to the university, the location creates a strong draw to potential tenants. The vitals (note: see the listing for bed/bath information in the Realtor’s write-up. They won’t show in the table below):

List Price $2,095,000
Est. Payment $10,048
Listed 04/19/11
Beds 0
Full Baths 0
Partial Baths 0
Property Type MFR
Sq. Ft. 4,138
$/Sq. Ft. $506
Lot Size 10,500 Sq. Ft.
Year Built 0
Source MLSListings Inc.
MLS # 81117293
Views 18
Popularity Popularity: 4/10

And a photo of the exterior:

Stanford Mutli-Unit for sale at 2108 Williams St.

Many units means many tenants!

See all available homes for sale in the Palo Alto Area

Cambridge, MA

68 School St., Cambridge, MA: this is 2-level 1 bed/1 bath condo that includes an office, situated within walking distance of Cambridge’s most popular locations, including Harvard and MIT. Here are the vitals:

 

List Price $305,000
HOA Dues $119
Listed 07/28/11
Beds 1
Full Baths 1
Partial Baths 0
Property Type CONDO
Sq. Ft. 611
$/Sq. Ft. $499
Lot Size N/A
Year Built 1854
Source MLS Property Information Network, Inc.
MLS # 71267896
Views 25
Popularity Popularity: 7/10

Great rental for student, teacher, or...?

See all homes for sale in the Cambridge Area

And where else?

Just three listings in just three potential areas, what you see here is only a taste, a teaser, of what’s out there if you’re in the market for rental property.  We know America offers more than three great colleges, with great college towns to go with every one. So help us out by joining the conversation: Live near an excellent university and love your community?  Know some important tips for newbie landlords in your area? Consider us your students and share your college town insight through the comments below.