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15 2BR/1.5BA 2 story apartment units + more on LSU bus route

House, Buy | United States, Louisiana, Baton Rouge, Baton Rouge
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1,350,000 USD
Price
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16,500 sqft
Total Surface Area
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13,068 sqft
Lot Size
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1,350,000 USD
Price

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Amenities and special features of this house

Fifteen great 2BR/1.5BA 2 story apartment units on LSU bus route. Eight units in 2 Four Unit buildings are located on Brightside View Drive and 7 units in 2 Four unit buildings are located on East Boyd Avenue. (These 7 units on Boyd were built as condominium units and do have condo fees of $900.00 per year for each unit). All units are 1,100 Square feet in size with ceramic tile floors on the lower floor and carpet on the 2nd floor. Bathrooms (1 up and 1/2 down) have vinyl flooring units are all electric and include range, dishwasher, garbage disposal, washer, dryer and HVAC. Unit A's have a bay window and balcony; unit B's have a fireplace; unit C's have a bay window on both floor, and unit D's a bay window and fireplace. All units are presently rented for $800/month per unit for a Gross Income of $144,000 per year and 100% occupancy. Current taxes are $14,470 and insurance is approximately $12,000. Present NOI is $99,708 with a 6.35 cap rate. rents in the area average $950 to $995 per unit so these units have a good upside for future income.


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