1770 RIDGEFIELD AVE Thibodaux LA 70301

CBRE Baton Rouge is pleased to present Ridgefield Apartments, a 6-unit apartment complex located at 1770 Ridgefield Ave in Thibodaux, LA. This market-rate property offers an excellent opportunity for both new and seasoned investors looking to enhance their portfolios. The complex currently features four fully occupied units with rents significantly below market rates, providing the new owner with the chance to adjust rents to align with current market levels. Additionally, the property includes an extra structure with two units that require complete rehabilitation, presenting further potential for generating additional income. Conveniently situated just minutes from Nicholls State University, Ridgefield Apartments enjoys a prime location that appeals to all renters. This unique investment opportunity allows for immediate cash flow while unlocking the property’s full potential.

•Over $10,000 was just spent on new stairs, balcony and supports!

•Value Add Opportunity: Two units are offline and require rehabilitation, presenting a chance to increase overall property value and rental income through renovation.

•Under Market Rate Rents: Current tenants are paying below market rents, indicating significant potential for rental increases upon lease renewals and turnovers.

•Low maintenance cost: With only six units, property management and maintenance cost can be minimized.

•Growing Rental Demand: Thibodaux’s rental market is strengthening, creating a favorable environment for landlords and potential rent growth.

•Strategic Location: Situated in a desirable area of Thibodaux, providing easy access to local amenities, schools, and employment opportunities.