Listed by Marcus & Millichap - Baton Rouge
$1,900,000
Multifamily Redevelopment Opportunity
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 26,584
Units 43
NOI $34,500
Occupancy 11.6%
Tenancy Multi
Pro-Forma NOI $474,401
Price per SqFt $71
Class C
Year Built 1970
Buildings 5
Stories 2
Acreage 2.408
Investment Type Redevelopment
Multifamily | 43 Units | $44,186/unit
Marketing description
1230 Old Robeline Road is a partially renovated 43-unit multifamily redevelopment opportunity located near Northwestern State University in Natchitoches, Louisiana. The asset offers investors the ability to acquire an in-process renovation at an attractive basis and complete the remaining renovation program through targeted capital investment, lease-up, and professional management.
Investment highlights
- 43-unit value-add opportunity near Northwestern State University in Natchitoches, Louisiana — student, faculty, workforce and local renter demand
- Approximately $725K+ reportedly invested to date in roofs, exteriors, fencing, windows, wiring and unit finishes (unverified)
- Five renovated 2BR units reportedly leased between $1,000 and $1,125 per month, evidencing early renovation pricing power
- 37 units remain gutted or incomplete — defined scope of interior buildouts, MEP, kitchens, baths and finishes for a new owner to execute based on its preferred scope, finish level and lease-up strategy
- Estimated all-in basis of $2.8M–$2.9M before soft costs equates to ±$67K/unit — an attractive basis relative to post-renovation potential
Listing Contacts
Listed by Marcus & Millichap - Baton Rouge
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$34,500.00
$2,875.00/mo
Valuation Metrics
0
DSCR
1.82%
Cap Rate
1.82%
ROI
Map
Zoning
R-2 ResidentialMulti FamilyResidence District Multiple Family
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View all 7 uses
View all 7 uses Last updated Mar 27, 2026 For deeper zoning details, reports are available at Zoneomics
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Property History
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