Exhibit 23.4




                                  [LETTERHEAD]

                             L.P. MARTIN & COMPANY
                          CERTIFIED PUBLIC ACCOUNTANTS
                              4132 INNSLAKE DRIVE
                           GLEN ALLEN, VIRGINIA 23060
                              PHONE: (804) 346-2626
                               FAX: (804) 346-9311



                        Consent of Independent Auditors'




The Board of Directors
Cornerstone Realty Income Trust, Inc.
Richmond, Virginia



We consent to the use of our report dated July 11, 1997 with respect to the
statement of income and direct operating expenses exclusive of items not
comparable to the proposed future operations of the property Ashley Run
Apartments for the twelve month period ended March 31, 1997, for inclusion in a
form 8K filing with the Securities and Exchange Commission by Cornerstone Realty
Income Trust, Inc.



Richmond, Virginia
July 14, 1997