Seven-Unit Complex Near LSU
For Sale
$1,075,000
3294-3298 Ivanhoe Street, Baton Rouge, LA 70802
Renovated seven-unit apartment complex near LSU with high occupancy.
Property Size7,337 SF
Price / SF$146.52
Days on Market251
Property Features for 3294-3298 Ivanhoe Street
General Information
Standard status
Active
Size
7,337 SF
Property subtype
Multifamily
Listing Agency:
(225) 678-8851
Listed By:
Andrew D'Ostilio, CCIM
(225) 678-8851
Source:
Naiglobal
Added: Nov 21, 2025
Changed: Jul 6
Last Checked: May 8 at 9:00PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Andrew D'Ostilio, CCIM
Investment Insights
Based on property information with market context.
This seven-unit apartment complex is located on the north side of LSU's campus. The property consists of two buildings situated on two adjoining lots in a primarily residential rental neighborhood. Its proximity to LSU's campus provides a large student tenant base. The property has historically maintained 100% occupancy levels. Most tenants are upperclassmen or graduate students at LSU. Each unit features vintage hardwood flooring, arch doorways, solid wood doors, and tile bathrooms. Each apartment includes a living room, dining room, kitchen, bedroom areas, and a single full bath. All units have a washer/dryer, a free-standing range/oven, a refrigerator, and central air conditioning. The property has access to surrounding retail, restaurants, coffee shops, and attractions like the LSU Lakes. Interior and exterior renovations totaling $300,000 were completed in 2013. There are 12 parking spaces onsite, with additional on-street parking available. The property is within walking distance of LSU's campus and offers ample nearby amenities.
Key Highlights
- Walking distance to LSU's campus, providing a large student tenant base.
- Historically maintains 100% occupancy.
- Each unit has a washer and dryer.
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $128.5k | $17.52 |
| − Vacancy | −$6.4k | −$0.87 |
| EGI | $122.1k | $16.65 |
| − OpEx | −$55.0k | −$7.49 |
| NOI | $67.2k | $9.16 |
7,337 SF · lease $17.52/SF/yr · vacancy 4.98% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$959.7K
$839.7K – $1.12M
NOI $67,179 @ 7.0% cap · market cap 6.25%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.76M
$1.54M – $2.05M
NOI $123,000 @ 7.0% cap · market cap 11.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
760
Businesses Nearby
Explore this area
Business Placement
Demographics for 70802, LA
26,519
Population
13,887
Households
1.9
Avg Household Size
29
Median Age
24%
College-Educated
82%
High-School Grad
7.1 sq mi
ZIP Area
3,735
Density / Sq Mi
$34,082
Median Household Income
$23,215
Median Earnings
$935
Median Rent
$105,100
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Renovated seven-unit apartment complex near LSU with high occupancy.
Where is this apartment building located?
The property is located at 3294-3298 Ivanhoe Street Baton Rouge, LA.
What is the asking price?
The asking price for this property is $1,075,000.
What are key features of this property?
This property features: Walking distance to LSU's campus, providing a large student tenant base.; Historically maintains 100% occupancy.; Each unit has a washer and dryer.
