674-Unit REO Apartment Portfolio For Sale

1710 N Marque Ann Dr, 2888 Dougherty Dr, 1737 La Annie Dr, 5665 McClelland Dr, Baton Rouge, LA

$40,757,889

Price

597,356 sqft

Building Size

674

Units

Overview
Building Size
597,356 sqft
Units
674
Description

This REO (Lender Owned) multifamily portfolio presents a unique investment opportunity, combining four distinct properties in Baton Rouge, LA, each offering its own set of advantages and potential for growth. The collection includes Cherry Creek Apartments, Pine Square Apartments, Olive Square Apartments, and The Palms Apartments.

Cherry Creek Apartments, established in 1976, covers 13.55 acres with 330 units, making it a significant presence in the area. It represents a valuable opportunity for investors to modernize and revamp a sizable portion of the property while maintaining occupancy in other areas. Similarly, Pine Square Apartments, extends over 7.14 acres with 183 units. This property, built in 1972, is fully fenced and gated, featuring essential amenities like a laundry facility and a leasing office. It stands out for its potential for cosmetic improvements to enhance its appeal in the vibrant rental market.

Olive Square Apartments, constructed in 1976, spans 3.26 acres with 86 units. It offers a unique growth opportunity with its additional space for new construction, boosting the unit count and property value. Adjacent to Cherry Creek, Olive Square is a blend of current stability and future expansion potential. Lastly, The Palms Apartments, dating back to 1970, is a cozy community spread over 2.72 acres with 75 units. Its prime location near Airline Highway provides excellent access and visibility, making it a convenient and attractive option for residents.

Overall, this portfolio presents a diversified investment opportunity in Baton Rouge's residential market. With properties ranging from a large-scale renovation project at Cherry Creek to the growth potential at Olive Square and the stable, near-stabilized environment of The Palms, investors have the chance to capitalize on a variety of strategies to enhance value and yield significant returns.

View the Portfolio Summary Brochure to view Offering Memorandums for each of the properties.
Properties can be purchased separately or together as a package.

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Documents
Location