Listed by Bridgewater Realty Advisors
$5,800,000
River Pines Apartments
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 38,000
Net Rentable (SqFt) 38,000
Units 64
Cap Rate 7.29%
NOI $423,071
Pro-Forma Cap Rate 8.97%
Pro-Forma NOI $520,426
Price per SqFt $153
Class B
Year Built 1978
Acreage 2.750
Sale Condition For sale by owner
95%+ occupied w/ ability to increase rents
Marketing 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 estimated NOI of $423K 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.
Investment highlights
• 64 Total Units – (15) 1BD/1BA | (49) 2BD/1BA
• Unit Sizes: 480-622 SF | GBA: ±38,000 SF
• Separately metered electric | Central laundry room
• Stable rent roll with below-market rents offering upside
• Strong historical occupancy | Proven working-class tenant base
• Centrally located near retail, employment and transit corridors
• Flood Zone X
• Cap Rate: 7.29% | NOI: $423,000
Listing Contacts
Listed by Bridgewater Realty Advisors
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$423,071.00
$35,255.92/mo
Valuation Metrics
0
DSCR
7.29%
Cap Rate
7.29%
ROI
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