37
See all 37 photos
$5,800,000
Est. payment /mo
113 Beds
64 Baths
38,000 SqFt
New
5750 FLORIDA BLVD Baton Rouge, LA 70806
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your advisor will contact you to discuss available opportunities.
In-PersonVirtual Tour
UPDATED:
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 38,000 sqft
Price per Sqft $152
MLS Listing ID 2558044
Style Traditional
Bedrooms 113
Full Baths 64
Construction Status Very Good Condition
HOA Y/N No
Year Built 1978
Lot Size 2.756 Acres
Acres 2.7563
Property Sub-Type Apartment
Property Description
River Pines Apartments is a 64-unit multifamily property located on Florida Blvd in Baton Rouge. The complex features a mix of (15) one-bedroom units and (49) two-bedroom units, offering a balanced unit mix with strong tenant demand strong historical occupancy and reliable cash flow. All major systems are maintained and market rents support further upside through light renovations. With an in place NOI of $423,071 and an 7.29% cap rate at the asking price, River Pines provides stable yield and low management intensity in a high-demand Baton Rouge submarket close to major employers, retail and transit routes. The seller has intentionally kept rental rates low to ensure high occupancy and reduce turnover. When the rents are increased to actual market value, NOI can be boosted to $520,426 or a 8.97% cap rate.
Location
State LA
County East Baton Rouge
Interior
Heating Central
Cooling Central Air
Fireplace No
Exterior
Parking Features Parking Lot
Water Access Desc Public
Roof Type Flat
Building
Lot Description 1 to 5 Acres, City Lot
Entry Level Two
Foundation Slab
Sewer Public Sewer
Water Public
Architectural Style Traditional
Level or Stories Two
Construction Status Very Good Condition
Others
HOA Name GBRAR
Tax ID 00007145
Special Listing Condition None
Listed by Bridgewater Realty Advisors, LLC
NEARBY SCHOOL & BUSINESS
GET MORE INFORMATION
QUICK SEARCH