Lone Oak Apartments

Multi-Family for Sale
Sale Pending/Contingent
Catylist Listing ID: 30163428
Property Subtypes: Low-Rise/Garden
Status: Pending/Contingent
Number of Units: 60 Units
Building Size (RSF): 45,620 SF
Gross Building Area: See Agent
Gross Land Area: 112,394 SF
Sale Price: $2,520,000
Unit Price: $42,000 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Average Occupancy Rate: 88
Last Updated: 4/30/2018

Overview / Comments

Property will ONLY be sold with Magnolia Gardens Apartments (#30163637) and Greenwell Plaza Apartments (30163621) 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.

Lone Oak Apartment complex is a two-story, garden style multifamily property consisting of 60 units and onsite coined laundry facility.

Listed at $2,520,000
Unit price - $42,000
Land 2.5802 acres (112,394 sqft)
Built in 1977
Complex is currently running at 86% (July) and 88% (August) occupancy.

14 units are 1bed/1bath – 585 sqft - $685
38 units are 2bed/1bath - 781 sqft - $785
8 units are 3bed/1.5bath – 969 sqft - $1025

Rentable sqft 45,620

Landlord pays all water, sewer, trash, electricity and gas.

Onsite shared laundry facility and vending machine adding additional income averaging $6800/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. Some with ceiling fans.

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: 1318969
Percent Occupied: 88%
Community Amenities: On-Site Maintenance
Property Located Between: Airline and Oak Villa
Airports: Baton Rouge Airport
Property Condition: Good
Number of Stories: 2
Year Built: 1977
Roof Type: Gable
Parking Type: Surface
Laundry: Shared
Heat Type: Natural Gas
Heat Source: Central
Water Service: Municipal
Sewer Type: Municipal

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 7,315 93,224 229,976
Median Age: 30.3 34.45 34.23
Households: 2,957 35,838 89,646


Photograph of Listing Agent

Leanne LaPlace Evans

RE/MAX Professional Baton Rouge, LA 70809
LACDB Member
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