$620,000
Magnolia Homes at Chimes
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 14,122
Net Rentable (SqFt) 8,000
Units 10
Cap Rate 13.38%
NOI $82,944
Occupancy 90%
Pro-Forma Cap Rate 12.38%
Pro-Forma NOI $85,432
Price per SqFt $44
Class B
Year Built 1970
Buildings 1
Stories 1
Lot Size (SqFt) 14,122
Zoning Residential
Parking Spaces 16 spaces
Parking Per SqFt 1.13
Occupancy Date 07/31/2024
Sale Condition For sale by owner
Multifamily | 11.93% CAP
Marketing description
Prime Investment Opportunity!Prime Investment Opportunity – 10-Unit Multifamily Near LSU Located just minutes from LSU’s iconic Tiger Stadium and LSU’s Box baseball field, this 10-unit apartment complex is a strong, income-producing asset in a high-demand rental area. Tenants are responsible for their own utilities, keeping operating costs low for the owner. The roof is less than 5 years old, and the property includes an on-site laundry room for added tenant convenience and extra income potential. Whether you’re a seasoned investor or just getting started, this property offers solid cash flow and long-term value.
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Loan Amount
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Annual Debt Service
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Annual Cash Flow
$82,944.00
$6,912.00/mo
Valuation Metrics
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DSCR
13.38%
Cap Rate
13.38%
ROI
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