REO 674-Unit Apartment Portfolio
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REO 674-Unit Apartment Portfolio
4 Multifamily Properties Offered at $23,590,000 in Baton Rouge, LA
Investment Highlights
- Value add opportunity
- Opportunity for full renovation at some Cherry Creek units
- Most units need cosmetic renovations and upgrades
- All properties located within 15 minutes of one another
Executive Summary
View the Portfolio Summary and OMs for each property here: https://buildout.com/connect/sharing/674-unit-rep-apartment-portfolio-for-sale-baton-rouge?file=3145902
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.
Properties can be purchased separately or together as a package.
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.
Properties can be purchased separately or together as a package.
Property Facts
| Price | $23,590,000 | Number of Properties | 4 |
| Price / SF | $36.63 / SF | Individually For Sale | 0 |
| Sale Conditions | REO Sale | Total Building Size | 644,034 SF |
| Sale Type | Investment | Total Land Area | 24.91 AC |
| Status | Active |
| Price | $23,590,000 |
| Price / SF | $36.63 / SF |
| Sale Conditions | REO Sale |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 4 |
| Individually For Sale | 0 |
| Total Building Size | 644,034 SF |
| Total Land Area | 24.91 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
|
Olive Square Apartments
1737 La Annie Dr, Baton Rouge, LA 70815 |
Multifamily | 98,340 SF | 1988 | - |
|
Pine Square Apartments
2888 Dougherty Dr, Baton Rouge, LA 70805 |
Multifamily | 171,502 SF | 1954 | - |
|
The Palms
5665 McClelland Dr, Baton Rouge, LA 70805 |
Multifamily | 72,312 SF | 1970 | - |
|
BRCC Apartments
1710 N Marque Anne Dr, Baton Rouge, LA 70815 |
Multifamily | 301,880 SF | 1974 | - |
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