Multifamily Portfolio at Northgates of LSU on E State St

149, 229, 231, 233, 261 E State St, Baton Rouge, LA

$2,190,000

Price

7.59%

Cap Rate

$166,166.90

NOI

Overview
Cap Rate
7.59%
NOI
$166,166.90
Building Size
13,075 sqft
Occupancy
90%
Class
B
Units
20
Floors
2
Description

Located at the Northgates of LSU and just a short walk from several popular restaurants and retailers, this multifamily portfolio provides a perfect opportunity to acquire a multifamily asset.

This portfolio contains 20 units in 4 separate buildings, with a mix of one and two bedroom units. The tenant base is primarily students, and two of the units are currently being used as Airbnb rentals. Little to no deferred maintenance, a low expense to income ratio, and strong historical occupancy make this property portfolio a desirable opportunity for potential investors.

The 8-unit property (149 E State St) is also listed individually for sale.

Located on E State St between Highland Rd and Dalrymple Dr.

Highlights
  • 7.58% Cap Rate
  • Located at the Northgates of LSU in Opportunity Zone
  • All units rent-ready condition with little deferred maintenance
  • 9 units pre-leased for Fall 2020
Documents

Location
Gallery