For Sale
$3,500,000

3005 Old Taylor RdOxford, MS 38655

85 Units, 125 Beds, Prime Location

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional investment opportunity presents a fully approved multifamily development project in Oxford, Mississippi, ideally situated near the University of Mississippi campus. The 3.21-acre site includes approved plans for two three-story buildings, totaling 85 units and 125 beds. The design incorporates attractive architectural features and ample parking. This pad-ready site boasts existing utilities and a paved parking lot, significantly reducing development time and costs. The property's proximity to the university, Vaught Hemingway Stadium, Swazye Field, the Grove, and downtown Oxford ensures high occupancy rates and strong rental income. Market analysis reveals exceptional demand, with a 100% pre-leasing rate for 2024, exceeding previous years. Ole Miss's recent enrollment surge (16.9% in 2023) and Oxford's population growth (projected 25% increase by 2030) further solidify this investment's potential. The asking price of $3,500,000 includes the land, approved plans, and existing infrastructure. Final construction drawings are required for final approval and permitting. This is a rare chance to capitalize on the thriving Oxford real estate market and the consistently high demand for student housing. The property is zoned TNB and offers a unique opportunity for immediate development. The approved plans provide a significant head start, minimizing delays and maximizing returns. Don't miss this chance to be part of Oxford's dynamic growth.

Highlights

  • Approved plans for an 85-unit, 125-bed multifamily development on a 3.21-acre pad-ready site.
  • Prime location near the University of Mississippi campus, Vaught Hemingway Stadium, and downtown Oxford.
  • Exceptional market demand with 100% pre-leasing for 2024, driven by a 16.9% enrollment surge at Ole Miss in 2023.
  • Pad-ready site with existing utilities and parking lot, minimizing development time and costs.
  • Final construction drawings required for permit approval.
  • $3,500,000 asking price includes land, approved plans, and existing infrastructure.

Property Details for 3005 Old Taylor Rd

Property type
Dormitories, Student housing
Buildings
2
Stories
3
Lot Size (sq. ft)
139,828 SF
Units
85

Location Insight

City
Oxford
County
Lafayette
State
Mississippi
Latitude
34.342284971704
Longitude
-89.546058037454
3005 Old Taylor Rd, Oxford, Mississippi

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3005 Old Taylor Rd
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