$395,000 Price Analysis   ♡   Baton Rouge, LA 70806 2 bed 1 bath 3,673 SqFt ($107/SqFt) 0.35 acre lot. Listed 2024-05-01 | Ⓧ USDA Ineligible due to location near Baton Rouge |
Lee and Associates is pleased to present this opportunity to acquire a 4-unit multifamily property located in the Garden District neighborhood in Mid City Baton Rouge.
Each apartment measures approximately 918 square feet and contains two bedrooms and a single bathroom. All of the apartments are two floors, with the living room, dining room and kitchen on the lower floor and bedrooms and bathroom upstairs. All of the units boast hardwood floors and tons of natural light and each unit is separately metered for electricity, gas and water. Current rents range from $900 to $950 per month. Rental income potential is huge for this building (market rents for similar units in the area average $1, 100/month - $4, 400/month total), making it an excellent opportunity for investors seeking solid returns.
While it is in serviceable cndition, this building will require foundation repair at some point in the future and is priced accordingly. This property includes an enormous back yard, providing flexibility for potential future uses of the lot. The Garden District has historically maintained high property values and rental demand and it represents an extremely stable area for investors seeking long-term value through appreciation. With the new construction occurring blocks to the north, this property represents an excellent opportunity to secure a prime location with a tremendous outlook for growth in property values.
Presented by Nathan Mcbride at
Lee & Associates.
Property MLS #2024008271 from BatonRouge
Lot Size Dimensions: Irregular
Lot Size Square Feet: 15246
Map directions Map directions Map directions Map directions Map directionsFull Bathrooms in Unit-1: 1
Source Property Type: Multi-Family
Area: EBR MLS Area 51
Source Neighborhood: Rittiner Terrace
Subdivision: Rittiner Terrace
Property Subtype: Fourplex (4 Units)
Source System Name: C2C
$395,000
BatonRouge
Year Built Details: 76 + Years
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The property loan eligibility may be subject to additional requirements beyond geographical location including but not limited to the condition of the property. Speak with a real estate professional to find out more about the eligibility of a specific property.