An Investment Dream Come True Located in downtown Troy, Alabama is the Historic Gellerstedt Building. A 3-story building eligible to be on the National Historic Register, now houses two premier apartments (Airbnb) of this charming city. The building which once housed the Gellerstedt Tailoring Co., would grow to be the largest tailoring company in the state shipping tailor handmade suits to New York and Chicago in the late 1800's. The building is adorned with ornamental stone figures that were cut by a local stone cutter. The 1st floor is currently under construction and is almost 80 percent complete. Once housing a bank this floor still has the built in safe. The 2nd and 3rd floors were completely renovated in 2017. The building square footage is approximately 5400. Troy boast many amenities including Troy University, The Pioneer Museum of Alabama, Conecuh River Military Museum, Butter & Egg Adventures, Trojan Oaks Golf Course, Troy-Pike Cultural Arts Center, lots of fashionable boutiques and wonderful dining. Plus, the exciting sporting events played at Troy University. Troy is home to a variety of growing industries including Sikorsky Aircraft, a Lockheed Martin Company, KW Plastics Recycling, Wiley Sanders Trucking, Kimber Manufacturing, and only minutes from the Walmart Distribution Center. Troy is also conveniently located only 2 hours from the Gulf Coast Beaches, and an hour from historic Montgomery, Alabama. Troy's population for 2021 was 17,609. The University has a student count of 15,507. Currently apartments in Troy rent between $563 to $1557 per month. The average 2-bedroom apartment rents for $868. This price continues to rise each year with the demands of the growing population. With 48 percent of Troy's population currently renting this is an amazing opportunity for investors. The Loft on the Square - 76 N. Court Square, Apt. 21. This 2nd story Loft will take you back in time with 2 bedrooms, 1.5 baths, full kitchen, laundry, living room, and pantry. Exposed original indoor brick, original hardwood floors, 14 ft shiplap ceilings with crown molding, granite counter tops and stainless-steel appliances only add to the warmth and charm of this apartment. Overlooking the downtown Square, you can catch the morning hustle and bustle and the beautiful night lights that the Square has to offer. Downtown Troy Studio - 76 N. Court Apt. 31. This studio apartment is located on the 3rd floor, with 2 bedrooms, 1.5 baths, full kitchen, living room and pantry. Exposed original indoor brick, 14 ft shiplap ceilings with crown molding, stainless-steel appliances, and granite countertops, keep the historic feeling with modern conveniences. The Studio also overlooks the downtown Square, where there are several boutiques and restaurants within walking distance.
This property is off market, which means it's not currently listed for sale or rent on Zillow. This may be different from what's available on other websites or public sources.
