Fully Occupied Multifamily Opportunity at LSU

Multi-Family for Sale
Catylist Listing ID: 30835377
Property Subtypes: Duplex/Fourplex, Low-Rise/Garden, Student Housing
Number of Units: 15 Units
Building Size (RSF): 1 SF
Gross Building Area: See Agent
Sale Price: $930,000
Unit Price: $62,000 Per Unit
In Opportunity Zone? Yes
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 2/20/2024

Overview / Comments

Now available for sale, this portfolio includes 3 adjacent properties at the LSU Northgates on E State St. All of the portfolio units are comprised of 1 bed / 1 bath.

All 3 properties are currently 100% occupied. The properties include ample off-street parking.

The portfolio currently has numerous long term tenants paying below market rate creating the opportunity to increase rents.

All tenants pay their energy. Currently, the landlord covers all water / sewer. All of the units have central A/C with the exception of 1 unit. All units use on-site coin operated laundry facility.

325 E State St is a 6-plex. The interiors have been updated over the last few years and there are 3 brand new A/C units.
339 E State St is a single-family home transformed into a fourplex.
345-349 E State St is comprised of a fourplex and a single family house.

• 100% Occupied
• 3 Adjacent properties at the LSU Northgates on E State St
• Long term tenants paying below market rate – rent increase opportunity
• Units are separately metered, all tenants pay energy

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Attachments & Media

Additional Details

Nearest MSA: Baton Rouge
County: East Baton Rouge
Submarket/Township: 52
Tax ID/APN: 007-5127-8
Percent Occupied: 100%

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 13,099 81,261 164,690
Median Age: 27.76 32.78 33.28
Households: 4,873 35,028 68,293

Contact

Photograph of Listing Agent

Mark R Segalla

Elifin Realty Baton Rouge, LA 70801
LACDB Member
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