Stephanie Bilbe Burkett
REALTOR®
BEDS0
BATHS64 full
SQUARE FEET38,000
MLS#2529356
STATUSActive
PROPERTY TYPEMulti Unit - Multiple
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.
Property Features
Property Type: Multi Unit - Multiple
Cooling: Central Air
Heating: Central
Home Style: Apartment, Traditional
Lot Size: 2.76 Acres
Roof Type: Flat
Stories: 2.0
Feature Descriptions
Accessibility: Accessibility Features
Days on Site: 130
Exterior: Brick, Block
Lot: 1 to 5 Acres, City Lot
Lot Dimensions: 2.75 ac
Parking: Parking Lot
Property Condition: Very Good Condition
Sewer: Public Sewer
Water: Public
Listed By / Shown By
Listed By
Agency Name: Bridgewater Realty Advisors, LLC
Agency Phone: (504) 901-0463
Shown By
Agent Name: Stephanie Bilbe Burkett
Agent Phone: (504) 975-4160
Agency Title: Wurth Real Estate Services
Estimate Your Payment
Estimated Payment
$ 14,599.95 per month $12,908.29 Principal & Interest $0.00 Property Tax (data not provided by mls) $1,691.67 Homeowner's InsuranceChange Payment Information
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5750 Florida Boulevard | MLS# 2529356
This multi-family property located at 5750 Florida Boulevard, Baton Rouge, LA 70806 is currently listed for sale with an asking price of $5,800,000. Search Baton Rouge real estate on sburkett.wurthre.com today.