Starting Bid $7,000,000 - Auction Ends May 7th Transwestern’s National Student Housing Team is pleased to exclusively present the opportunity to acquire Monarch 815, a 176-unit, 576-bed student housing asset located in Johnson City, Tennessee. The Property is optimally located across from East State Tennessee University (ETSU), which has been experiencing record enrollment attributed to it’s reputation for providing high-quality, affordable education, with many of its programs ranked among the best in the nation. At 90% occupancy, Monarch 815 has strong existing cash flow and also offers a very compelling value-add opportunity for investors through additional lease-up, mark-to-market rental increases and minor amenity upgrades. Monarch 815 offers an outstanding opportunity to invest in a well maintained, quality asset, at an extremely attractive basis well below replacement cost in a market where students have limited on-campus housing options, with only two existing comparable student focused properties, and no new developments in the supply pipeline.