Emerald Trace Apartments

Investment Overview

Emerald Trace Apartments in Ruston presents a stable affordable housing investment opportunity within a consistent North Louisiana rental market. Built in 1999, the community offers spacious two-, three-, and four-bedroom floor plans with fully equipped kitchens, washer and dryer connections, and practical layouts designed to serve workforce households and families. Residents benefit from on-site laundry facilities, a playground, ample parking, landscaped grounds, and professional management with 24-hour emergency maintenance. Conveniently located near Interstate 20 and Ruston’s primary retail corridor, the property provides easy access to major employers including Louisiana Tech University and Northern Louisiana Medical Center, supporting steady occupancy and long-term demand in a market with limited new multifamily supply. Emerald Trace presents the opportunity to acquire a stabilized asset with meaningful upside upon the expiration of its LIHTC restrictions in December 2028. Current effective rents are approximately $225–$275 below comparable market-rate levels, providing a clear mark-to-market opportunity post-restriction burn-off.

Investment Highlights

• 72 Units over 53,312 Rentable SF
• Currently at 94% Occupancy, this stabilized asset experiences minimal vacancies, proven by an average economic vacancy figure over the past 12 months of only 4%.
• Built in 1999, this property has undergone significant improvements. Ownership has invested roughly $327k in capital improvements. These include all new HVACS, LVP in roughly half of the units, and fiber optic installed in all units.
• Ability to transition to market rate tenants in year 3 of the hold period upon the expiration of the extended use period.
• This stabilized asset experiences minimal vacancies, proven by an average economic vacancy figure over the past 12 months of only 4%
• Allowable rents for Lincoln Parish will be increased on May 1st, 2026 by an estimated 3%