Investment Overview

Marcus & Millichap is pleased to present the exclusive listing of Penny Lane, a 72-unit apartment community located in Ruston, Louisiana. Positioned within walking distance of Louisiana Tech University and along the university bus route, the property offers a compelling opportunity to reposition into a student housing model through by-the-bed leasing and parent guaranties. Penny Lane features an exclusively two- and three-bedroom unit mix averaging approximately 1,100 square feet, creating strong appeal for both conventional multifamily residents and student housing configurations. Constructed in 2006 with durable brick exteriors and roofs replaced in 2023, the property offers a stable turnkey investment with limited near-term capital needs. Existing ownership is also willing to remain involved in management following the sale, supporting a seamless operational transition. Supported by growing university enrollment, strong healthcare employment, and Ruston’s constrained multifamily supply environment, Penny Lane represents a compelling long-term investment opportunity in a growing university market.