06/02/2026
JUST LISTED: REO | 402 UNITS | 686 BEDS | THE COVE AT STATE STREET | ADJACENT TO LSU | BELOW REPLACEMENT COSTS
Walk-to-Campus Location
0.25 miles to LSU, in the established North Gate off-campus housing district anchored by The Chimes, Louie's Café, and the original Raising Cane's; Walkable proximity at this basis cannot be replicated through new construction
Deep Going-In Basis
Price per bed is materially below replacement cost and below recent comparable student-housing trades in the Baton Rouge market, providing meaningful downside protection
Heavy Value-Add with Mark-to-Market Upside
Chronically under-leased and under-rented, with in-place rents below comparable LSU-area properties; Upside through a capital program across unit interiors and amenities, a leasing reset aligned to the LSU pre-leasing calendar, and an expense recalibration
Captive, Growing Demand Base
LSU enrolled 43,385 students in Fall 2025, including a record freshman class, roughly 78% of students live off-campus, and on-campus housing capacity is structurally limited
Capital Already Underway
New roofs completed in 2025; Partial HVAC upgrades completed in 2026 (70 units converted from PTAC to split systems)
Abundant Community Amenities
Resort-Style Swimming Pool and Sun Deck, Landscaped Courtyard with Grill and Dining Areas, Outdoor Lounge Areas, Mail Package Center, Fitness Center, Yoga Studio & More
Details at the link: https://grea.com/properties/ #/3000-july-street
LISTING BROKER
Jennifer Stein Real Estate, Inc.
LA License: Brok995713229-CORP
Jennifer D. Stein, Broker
LA License: Brok0995688204-Act