Log In/Sign Up
Your email has been sent.
The Laurel 534 E Elm St 48 Unit Apartment Building $3,875,000 ($80,729/Unit) 6.40% Cap Rate Troy, AL 36081
INVESTMENT HIGHLIGHTS
- Premier student housing steps from Troy University
- Fully electric appliances and central air in all units
- Walking distance to Troy’s town square and campus
- 12 upscale cottage-style units with private baths
- Strong 96% occupancy with rent upside potential
- Built in 2021 with modern finishes and ample parking
EXECUTIVE SUMMARY
The property averages 475 square feet per student, providing spacious interiors and ample outdoor parking. With current occupancy at 96%, The Laurel demonstrates strong in-place performance and offers clear rent growth potential, with base rents ranging from $695 to $745 per bed inclusive of utilities.
Troy University, the flagship campus of the Troy University system, is a major economic and cultural driver in the region. The school continues to invest heavily in its infrastructure, including a $25 million recreation center, new health sciences building, and indoor athletic facilities—all of which enhance the appeal of nearby student housing.
This asset is ideally positioned for investors seeking stable cash flow, long-term appreciation, and proximity to a growing university market. The surrounding area features a mix of retail, dining, and residential neighborhoods, with easy access to major thoroughfares including US-231 and AL-87.
Troy University, the flagship campus of the Troy University system, is a major economic and cultural driver in the region. The school continues to invest heavily in its infrastructure, including a $25 million recreation center, new health sciences building, and indoor athletic facilities—all of which enhance the appeal of nearby student housing.
This asset is ideally positioned for investors seeking stable cash flow, long-term appreciation, and proximity to a growing university market. The surrounding area features a mix of retail, dining, and residential neighborhoods, with easy access to major thoroughfares including US-231 and AL-87.
FINANCIAL SUMMARY (PRO FORMA - 2026) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Net Operating Income |
-
|
-
|
FINANCIAL SUMMARY (PRO FORMA - 2026) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
PROPERTY FACTS
| Price | $3,875,000 | Apartment Style | Garden |
| Price Per Unit | $80,729 | Building Class | C |
| Sale Type | Investment | Lot Size | 2.04 AC |
| Cap Rate | 6.40% | Building Size | 48,000 SF |
| No. Units | 48 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 2021 |
| Zoning | S | ||
| Price | $3,875,000 |
| Price Per Unit | $80,729 |
| Sale Type | Investment |
| Cap Rate | 6.40% |
| No. Units | 48 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 2.04 AC |
| Building Size | 48,000 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 2021 |
| Zoning | S |
AMENITIES
UNIT AMENITIES
- Balcony
- Fireplace
- Washer/Dryer
- Granite Countertops
- Sprinkler System
- Stainless Steel Appliances
- Deck
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Online Services
- Walk-Up
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 4+4 | 48 | - | 270 |
1 1
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $0 (2024) | |
| Land Assessment | $53,600 (2024) | Total Assessment | $53,600 (2024) |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$53,600 (2024)
Improvements Assessment
$0 (2024)
Total Assessment
$53,600 (2024)
1 of 3
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
Presented by
The Laurel | 534 E Elm St
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.