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:||$36,206.90 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 9.8% 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
- 98% Occupancy
- 9.8% 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
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