REO 75-Unit Apartment Complex: The Palms Apartments
5665 McClelland Dr, Baton Rouge, LA
$4,529,062
Price
66,884 sqft
Building Size
75
Units
Overview
Description
Discover The Palms Apartments, a notable residential gem located at 5665 McClelland Dr, Baton Rouge, LA 70805.
This charming property, built in 1970, is situated just off Airline Highway, a major thoroughfare, offering easy access and visibility.
Spread across 2.72 acres, The Palms Apartments consists of 75 units housed within 6 buildings, making it a cozy community with a welcoming atmosphere.
The Palms Apartments boasts a gross building area of 66,884 SF and a net rentable area of 55,737 SF, providing spacious and comfortable living spaces for its residents.
The property's proximity to Airline Highway not only ensures convenience for daily commutes but also places residents within easy reach of local amenities and services.
The property is near stabilized, indicating a steady occupancy rate and consistent rental income, a key factor for investors seeking a reliable investment.
Additionally, the inclusion of an onsite laundry facility adds to the convenience and desirability of the property, catering to the everyday needs of the residents.
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