Approved Multi-Family Development Ole Miss Oxford

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Address: 3005 Old Taylor Rd, Oxford, MS 38655, USA
Created date: May 13, 2024
Date last updated: November 7, 2024
  • Plan Approved Apartment Development Near Ole Miss Campus.
  • Two Multi-Story Streetscape Building Design with top-tier amenities housing 85 Units | 125 Beds with Commercial space.
  • Located along Apartment row 1.o2 miles from Campus.
  • High barrier to entry site
  • Design approved – Break ground in short time after finalizing construction drawings.
  • Parking Lot and Utilities in place
  • Pre-lease units before project start!
  • 2023 freshman class saw a surge of 16.9%, creating demand for both on-campus and off-campus student housing.
  • Oxford’s population has doubled since 2000, with a projected 25% increase by 2030.
  • The pre-leasing market trend is exceptional, with a 61.5% pre-leasing rate in February 2024 – significantly above the previous year.
  • The University of Mississippi is leading the way with double-digit rent growth and rapid leasing of multi-family units.
  • Don’t miss out on being part of this thriving market!

 

**The price includes the 3.21 +/- Acre site with parking lot, building pad, utilities at the site and the designed and approved plans. M.E.P and construction drawings are required for final approval and permitting.

Property Description

Oxford multi-family development opportunity along Apartment Row/Old Taylor Rd in Oxford, MS. Home of The University of Mississippi - Ole Miss. The development site spans 3.21 acres, with an improved parking lot, utilities to the site and building pad. The municipal approved building design features two architecturally appealing multi-level buildings with a total of 85 units and 125 bedrooms, plus commercial space and top-tier amenities to include a pool and courtyard With a location just 1.2 miles from the University of Mississippi campus, new U of M student recreational facility, Vaught Hemingway Stadium, Swazey Field, the Grove and downtown Oxford, this property is minutes away from the University and town activities. *The Proforma Numbers Shown are based on Potential Rental Projections from area market rent comparables with commercial space rental income + 5% vacancy factor of total Potential Gross Rent. Expenses shown are estimated expenses calculated at 35% of Potential Gross Rent. *Disclaimer: No warranty or representations expressed or implied by the Owner or Broker HCI Realty, LLC of the accuracy of the information provided herein, including but not limited to, the project size, unit mix, stage of approvals, site conditions, potential rent, expenses and financial projections.

Key Property Information

Listing Status: Available
Property Types: Apartment Buildings
Price: $3,500,000
No. of Units: 85
Building Size: 92,473 Sq ft
Lot Size: 3.21 Acres
No. of Stories: 3
Zoning Code: TBN
Opportunity Zone: No
Price per unit: $41,176
Parking Spaces: 179
Property Website Click Here
Address: 3005 Old Taylor Rd, Oxford, MS 38655, USA

Unit mix

Description No. of Units Sq ft. Avg. Monthly Rent

FINANCIAL DETAILS

Income/expense info: Pro Forma
Financial year: 2026
Gross income: 1857320
Effective Gross income: 1764654
Operating expenses: 617890
Net operating income: 1146764

Additional contacts

Full name Phone number Email address
Josh Holcombe 662-265-3633 [email protected]

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