Investment Overview

The Melrose represents a rare lender-owned acquisition in Natchitoches' most supply-constrained submarket. As the largest multifamily asset (216 units) in a city of 17,165 residents, the property benefits from Northwestern State University's explosive enrollment growth—a 40% surge in first-time freshmen for Fall 2025 has pushed campus housing to 100% capacity, creating immediate off-campus demand. Limited developable land, restrictive zoning, and zero new multifamily construction pipeline create meaningful barriers to entry. The seller has invested $1,835,505 in comprehensive property rehabilitation since acquisition, including full roof replacement ($765,407), HVAC replacements ($264,743), unit turns ($509,072), pool upgrades ($40,965), and flooring ($90,794). These improvements have materially de-risked the asset, with only 22 of 216 units requiring final refurbishment to achieve 90% stabilized occupancy.