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Student Housing

The Laurel

534 Elm Street, Troy, AL 36081

Listing Price: Request For Offer

Number of Units
48
Occupancy
96.5%
Gross SF
45,576

Investment Overview

Marcus & Millichap is pleased to present The Laurel, a luxury student housing community in Troy, Alabama. The property is essentially new construction, having been completed in mid-2021. The property is 100 percent leased for the current academic year and has a waiting list for the fall 2024/2025 term. The Laurel is one of the highest quality properties in the market, and features an excellent location, being less than one-quarter mile from both campus and sorority row. The location allows residents to walk or bike to campus and convenient access to restaurant and bars in downtown Troy.

The Laurel is comprised of six duplex buildings, with each unit containing four bedrooms. Each bedroom has its own bath and there is an additional half-bath on the main level for guest to use. The property was built with low-maintenance, high-quality materials. Exterior walls are hardy panel and the common areas feature vinyl plank flooring. Stackable washers and dryers are provided. Ceilings are nine feet on both levels. Kitchens feature stainless steel appliances, granite countertops and decorative tile backsplashes. Each unit has a covered deck as well as an electric fireplace.

All utilities are provided; however, the tenants pay an additional $95 fee per bedroom to offset the cost of utilities to the owner. Additionally, should the utility cost exceed the amount covered by the fee, the landlord bills the tenant back for any excess cost.

Investment Highlights

  • Outstanding Location - Less than 1/4 Mile from Campus and Sorority Row
  • Bed/Bath Parity, Plus an Additional Half-Bath for Guest Use
  • High Quality/Low-Maintenance-Hardy Panel and Stacked Stone Exterior
  • Vinyl Plank Flooring in Common Areas; Granite Countertops in Kitchen; Stainless Steel Appliances

Exclusively Listed By

Student Housing

The Laurel

Listing Price: Request For Offer

Number of Units
48
Occupancy
96.5%
Gross SF
45,576

Investment Highlights

  • Outstanding Location - Less than 1/4 Mile from Campus and Sorority Row
  • Bed/Bath Parity, Plus an Additional Half-Bath for Guest Use
  • High Quality/Low-Maintenance-Hardy Panel and Stacked Stone Exterior
  • Vinyl Plank Flooring in Common Areas; Granite Countertops in Kitchen; Stainless Steel Appliances

Investment Overview

Marcus & Millichap is pleased to present The Laurel, a luxury student housing community in Troy, Alabama. The property is essentially new construction, having been completed in mid-2021. The property is 100 percent leased for the current academic year and has a waiting list for the fall 2024/2025 term. The Laurel is one of the highest quality properties in the market, and features an excellent location, being less than one-quarter mile from both campus and sorority row. The location allows residents to walk or bike to campus and convenient access to restaurant and bars in downtown Troy. The Laurel is comprised of six duplex buildings, with each unit containing four bedrooms. Each bedroom has its own bath and there is an additional half-bath on the main level for guest to use. The property was built with low-maintenance, high-quality materials. Exterior walls are hardy panel and the common areas feature vinyl plank flooring. Stackable washers and dryers are provided. Ceilings are nine feet on both levels. Kitchens feature stainless steel appliances, granite countertops and decorative tile backsplashes. Each unit has a covered deck as well as an electric fireplace. All utilities are provided; however, the tenants pay an additional $95 fee per bedroom to offset the cost of utilities to the owner. Additionally, should the utility cost exceed the amount covered by the fee, the landlord bills the tenant back for any excess cost.

Exclusively Listed By

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