This study investigated the effect of various layer arrangements and their impact on the properties of laminated veneer lumber (LVL). Seven different layer arrangements (CCCCCCC, DDDDDDD, PPPPPPP, CDDDDDC, CPPPPPC, CDDCDDC, CPPCPPC, CDCDCDC, CPCPCPC, CCDDDCC, CCPPPCC, CCDCDCC, and CCPCPCC) were used in the manufacturing of the LVL, with each arrangement represented by a combination of the three wood species: hornbeam (C), paulownia (P), and poplar (D). The veneers were bonded with a polyurethane adhesive and pressed under 1 MPa pressure. The physical and mechanical properties of the laminated veneer lumber, including modulus of rupture, modulus of elasticity, block shear, delamination, and swelling, were measured under both dry and cyclic conditions (boil and dry). The modulus of rupture and modulus of elasticity of the LVLs increased when the proportion of hornbeam in the lamination increased. In the cyclic boil-dry condition, the laminated veneer lumbers with the configurations CPCPCPC and CDCDCDC showed the best structural performance. Furthermore, the study found that when one or two upper layers of poplar and paulownia were replaced with hornbeam layers, cracks were observed in the laminated veneer lumber samples. However, when the layers of poplar and paulownia were replaced with hornbeam alternately, no cracks were observed after saturating the laminated veneer lumber with water. The utilization of an alternating arrangement of poplar and paulownia layers with hornbeam in LVL can be used as an effective and cost-efficient approach for enhancing and reinforcing the LVL performance.