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5750 FLORIDA BLVD, Baton Rouge, LA 70806
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5750 FLORIDA BLVD, Baton Rouge, LA 70806
5750 FLORIDA BLVD, Baton Rouge, LA 70806
5750 FLORIDA BLVD, Baton Rouge, LA 70806
5750 FLORIDA BLVD, Baton Rouge, LA 70806
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Gretchen Shotwell

Gretchen Shotwell

+1(504) 920-2235
$ 5,800,000
Est. payment /mo
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Active

5750 FLORIDA BLVD Baton Rouge, LA 70806

113 Beds

64 Baths

38,000 SqFt

UPDATED:

Key Details

Property Type Condo

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

Square Footage 38,000 sqft

Price per Sqft $152

MLS Listing ID 2558044

Style Traditional

Bedrooms 113

Full Baths 64

Construction Status Very Good Condition

HOA Y/N No

Year Built 1978

Lot Size 2.756 Acres

Acres 2.7563

Property Sub-Type Apartment

Property Description

River Pines Apartments is a 64-unit multifamily property located on Florida Blvd in Baton Rouge. The complex features a mix of (15) one-bedroom units and (49) two-bedroom units, offering a balanced unit mix with strong tenant demand strong historical occupancy and reliable cash flow. All major systems are maintained and market rents support further upside through light renovations. With an in place NOI of $423,071 and an 7.29% cap rate at the asking price, River Pines provides stable yield and low management intensity in a high-demand Baton Rouge submarket close to major employers, retail and transit routes. The seller has intentionally kept rental rates low to ensure high occupancy and reduce turnover. When the rents are increased to actual market value, NOI can be boosted to $520,426 or a 8.97% cap rate.

Location

State LA

County East Baton Rouge

Interior

Heating Central

Cooling Central Air

Fireplace No

Exterior

Parking Features Parking Lot

Water Access Desc Public

Roof Type Flat

Building

Lot Description 1 to 5 Acres, City Lot

Entry Level Two

Foundation Slab

Sewer Public Sewer

Water Public

Architectural Style Traditional

Level or Stories Two

Construction Status Very Good Condition

Others

HOA Name GBRAR

Tax ID 00007145

Special Listing Condition None

Gulf South Real Estate Information Network (NOMAR IDX Plus)
Listed by Bridgewater Realty Advisors, LLC
Gretchen Shotwell

Gretchen Shotwell

Rêve | Realtor | License ID: 0995685317

+1(504) 920-2235

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5750 FLORIDA BLVD