Catylist ID: #30163637
Magnolia Garden Apartments
Multi-Family for Sale
|Catylist Listing ID:||30163637|
|Number of Units:||119 Units|
|Building Size (RSF):||95,566 SF|
|Gross Building Area:||See Agent|
|Gross Land Area:||179,380 SF|
|Unit Price:||$42,857.14 Per Unit|
|Property Use Type:||Investment|
|Sale Terms:||Cash to Seller|
|Average Occupancy Rate:||92|
Overview / Comments
Property will ONLY be sold with Greenwell Plaza Apartments (#30163621) 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.
Magnolia Gardens Apartment Complex is a two-story, garden style multifamily property total of 119 units with onsite leasing office, swimming pool and onsite coined laundry facility. Property did not flood during Aug 2016 Flood.
Listed at $5,100,000
Unit price - $42,857
Land 4.118+- acres (179,380 +-sqft)
Built in 1977
Complex is currently running at 92% (July 17) and 91%(Aug 17) occupancy.
36 units are 1bed/1bath – 665 sqft- $600/mth or $700 for electricity included
32 units are 2bed/1bath -788 sqft - $650/mth or $825 for electricity included
51 units are 2bed/1.5bath - 910 sqft - $675/mth or $850 for electricity included
Rentable sqft 95,566
About half of complex has “electricity included” adding additional cost to monthly rent. Tenant has the choice. Landlord pays all water, sewer and trash.
Onsite shared laundry facilities and vending machines adding additional income averaging $13,700/year.
All units have dishwasher, range, hood, refrigerator, central air and heat. Most with vinyl plank or sheet flooring and carpet. Some with ceiling fans.
Call or email for additional information.
DO NOT DISTURB TENANTS OR MANAGEMENT
Additional information and Pro Forma in attached documents.
Attachments & Media
|Nearest MSA:||Baton Rouge|
|County:||East Baton Rouge|
|Community Amenities:||Outdoor Pool, On-Site Maintenance|
|Property Located Between:||Airline and Oak Villa|
|Number of Stories:||2|
|Total Parking Spaces:||218|
|Proximity:||1 mile||3 miles||5 miles|
Leanne LaPlace EvansRE/MAX Professional Baton Rouge, LA 70809
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