Greenwell Plaza Apartments

Multi-Family for Sale
Catylist Listing ID: 30163621
Property Subtypes: Low-Rise/Garden
Number of Units: 103 Units
Building Size (RSF): 86,704 SF
Gross Building Area: See Agent
Gross Land Area: 136,108 SF
Sale Price: $4,600,000
Unit Price: $44,660.19 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 11/7/2017

Overview / Comments

Property will ONLY be sold with Magnolia Gardens Apartments (#30163637) and Lone Oak Apartments (#30163428) which are located within 0.8 mile of Magnolia Gardens Apartment. Total of 282 units available for sale among all three complexes for $12,220,000.

Greenwell Plaza Apartments is a two story, garden style multifamily property with twenty-four additional townhomes. It has a total of 103 units, onsite office, coined-laundry facility and swimming pool.

Listed at $4,600,000
Unit price - $44,660
Built in 1977
Complex is currently running at 93% (July 17) and 95% (Aug 17)occupancy.
28 units are 1bed/1bath – 704 sqft - $635/mth
32 units are 2bed/1bath – 836 sqft - $685/mth
19 units are 2bed/2bath – 880 sqft - $735/mth
24 units are 2bed/1.5bath Townhome – 980 sqft - $750/mth

Rentable sqft 86,704

Landlord pays water, sewer and trash. Tenant is responsible for their own electricity.

Onsite shared laundry facilities and vending machines adding additional income averaging $7600/year.

All units have dishwasher, range, hood, refrigerator, central air and heat. Most with “wood-look” vinyl plank or sheet, carpet, some ceramic and 8’ ceilings. All townhomes and 16 units and washer/dryer connections. All first floor units flooded during August 2016 Flood and have been remodeled.

Call or email for additional information.

Additional information and Pro Forma in attached documents.

Additional Details

Nearest MSA: Baton Rouge
County: East Baton Rouge
Submarket/Township: 22
Tax ID/APN: 1384295
Percent Occupied: 95%
Community Amenities: Outdoor Pool, On-Site Maintenance
Property Located Between: Airline and Oak Villa
Property Condition: Good
Number of Stories: 2
Year Built: 1977
Parking Type: Surface
Total Parking Spaces: 131
Laundry: Shared
Heat Type: Electricity
Heat Source: Central
Water Service: Municipal
Sewer Type: Municipal

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 7,315 94,997 221,146
Median Age: 30.3 34.25 34.54
Households: 2,957 36,409 87,130


Photograph of Listing Agent

Leanne LaPlace Evans

RE/MAX Professional Baton Rouge, LA 70809
LACDB Member
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