Catylist ID: #30508027
Fairwood Apartments: 58-Unit Complex For Sale
Multi-Family for Sale
|Catylist Listing ID:||30508027|
|Property Subtypes:||Low-Rise/Garden, Other|
|Number of Units:||58 Units|
|Building Size (RSF):||50,700 SF|
|Gross Building Area:||See Agent|
|Gross Land Area:||2.30 Acres|
|Unit Price:||$0.02 Per Unit|
|Property Use Type:||Investment, Business|
|Building Name:||Fairwood Apartments|
|Sale Terms:||Cash to Seller|
Overview / Comments
Contact Mark Segalla 225-505-4349 for list price.
Fairwood Apartments is a 58-unit apartment complex located on Eaton St, just off of Mohican Ave in Mid City North. The property is approximately 2.3 acres and consists of 20 buildings and a large parking area. The unit mix features studio, 1-bedroom, 2-bedroom, and 4-bedroom units.
The complex has maintained stable, 90%+, occupancy through 2018 and 2019. With rents currently below market, the complex boasts a 7.9% trailing 12-month cap rate, and an 8.2% pro forma cap rate. All ground floor units were renovated in 2017 which helps position this complex for drastically higher returns through rent increases.
Fairwood Apartments is located just 5 minutes from I-110 and surrounded by single-family neighborhoods.
- 58 Units - 20 Buildings
- 91.4% Occupancy
- 8.2% Pro Forma Cap Rate
- Below market rents
Attachments & Media
|Nearest MSA:||Baton Rouge|
|County:||East Baton Rouge|
|Area Description:||Located between Plank Rd and N Foster Dr in Baton Rouge, LA.|
|Total Number of Buildings:||20|
|Number of Stories:||2|
|In Flood Plain?:||Yes|
|Proximity:||1 mile||3 miles||5 miles|
Mark R SegallaElifin Realty Baton Rouge, LA 70801
|© Copyright 2001-2020 Catylist. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither Louisiana Commercial Database, LLC nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.|