I think even the TP Link WR701/702N could do that. Borrow a router from any parent. Folks over the years have upgraded so there's a router in some closet out there.
I'm a pretty tech-savvy guy, but networking is a little beyond my area of expertise.
Background:
Multiple guys living in a college apartment. We have a Brother laserjet printer that is wireless and Ethernet ready. Ideally we would just connect it to the college WiFi, but due to restrictions the college has in place we aren't able to do that.
What we are trying to do:
We would all like to be able to print wireless to the printer. At the moment, we connect directly to the printer (it generates it own hotspot) to print. However, we need to push a "connect" button on the printer each time we want to print, and it's not reliable.
My idea:
Not even sure if this is plausible. Get a cheap wireless router. Connect printer to router via ethernet. Share printer on this isolated wireless network that has no internet access. To print, just connect to the wireless network. This would eliminate the need to go upstairs to push the connect button on the printer before printing each time.
Ideas on the plausibility of this? Any feedback/ideas would be greatly appreciated.

Chowhound
Comic Vine
GameFAQs
GameSpot
Giant Bomb
TechRepublic