503 1st St, Davis, CA 95616

Exceptional Student Housing Investment Opportunity in the Heart of Davis! Offered at $4,250,000, this remarkable, custom-built 2023 property presents a rare opportunity to acquire a modern, high-capacity residential investment in the desirable UC Davis community. Situated on approximately one-third of an acre, this impressive three-story building features 18 bedrooms with accommodations for up to 35 beds, thoughtfully designed to support comfortable and functional group living. The property offers an expansive communal kitchen, generous dining and gathering areas, multiple restrooms and shower facilities, and dedicated libraries and study spaces on each floor. A spacious basement provides additional room for meetings and group activities, while an inviting covered front porch and outdoor deck enhance the property's appeal. Originally constructed as the Beta Epsilon House of Theta Xi, an organization with nearly 75 years of history at UC Davis, the property currently accommodates both fraternity members and other residents, primarily university students. Significant income growth potential! Currently operating at approximately 55.5% occupancy, with eight bedrooms available for lease, the property offers an opportunity for increased rental revenue through improved occupancy and professional management. The building's modern construction, substantial residential capacity, and versatile layout may also provide opportunities for alternative uses, subject to city approval and applicable zoning requirements. Whether continuing its established student housing operation or exploring other permitted uses, this distinctive property represents a compelling opportunity to acquire a substantial income-producing asset in the Davis market. An exceptional combination of newer construction, housing capacity, and future potential!