Three-Property Multifamily
New
For Sale
$400,000
864/866 Louise St, Baton Rouge, LA 70802
Updated residential buildings with varied layouts, contemporary finishes, and proximity to Downtown Baton Rouge and LSU.
Property Size2,790 SF
Price / SF$143.37
Days on Market7
Property Features for 864/866 Louise St
General Information
Standard status
Active
Size
2,790 SF
Property subtype
Multi-Family
Building Details
Buildings
3
Listing Agency:
LPT Realty, LLC Bluebonnet
Listed By:
Denetria Burris · License #B26079
Source:
Smartmove225
Added: Sep 21
Last Checked: Sep 26 at 4:13AM
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 LPT Realty, LLC Bluebonnet
Investment Insights
Based on property information with market context.
This multifamily offering combines three residential structures on one parcel at 864 Louise St., 866 Louise St., and 1520 Utah St. The portfolio totals 2,790 square feet and includes a renovated loft-style building at 864 Louise St., a two-bedroom, one-bath residence at 866 Louise St., and a two-bedroom, two-bath property at 1520 Utah St. All three properties are being sold together.
Recent updates include granite countertops, new fencing, and roofs approximately three years old. The buildings have no carpet, and the varied layouts provide multiple residential configurations, including the ability to occupy one structure while renting the others. The property is located just minutes from Downtown Baton Rouge and LSU.
Recent updates include granite countertops, new fencing, and roofs approximately three years old. The buildings have no carpet, and the varied layouts provide multiple residential configurations, including the ability to occupy one structure while renting the others. The property is located just minutes from Downtown Baton Rouge and LSU.
Key Highlights
- Three residential structures on one parcel, sold together
- 2,790 SF total across 864 Louise St., 866 Louise St., and 1520 Utah St.
- 864 Louise St. features a renovated building with a loft
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$25,546
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.39%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$510,920
$510.9K
Cap Rate 7%
$364,943
$364.9K
Cap Rate 9%
$283,844
$283.8K
Market Conditions
NOI Build-Up for 2,790 SF
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.
Gross rent
$48.9K $17.52/SF
− Vacancy
−$2.4K −$0.87/SF
EGI
$46.4K $16.65/SF
− OpEx
−$20.9K −$7.49/SF
NOI
$25.5K $9.16/SF
Area
Baton Rouge, LA
Vacancy
4.98%
Lease Rate
$17.52 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$510,920
Cap Rate 7%
$364,943
Cap Rate 9%
$283,844
Alternative Uses
Best Use
Apartment 5plus
$364.9K
$319.3K – $425.8K
NOI $25,546 @ 7.0% cap · market cap 6.39%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$668.2K
$584.7K – $779.6K
NOI $46,773 @ 7.0% cap · market cap 11.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
564
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?
Multifamily property - Updated residential buildings with varied layouts, contemporary finishes, and proximity to Downtown Baton Rouge and LSU.
Where is this multifamily property located?
The property is located at 864/866 Louise St Baton Rouge, LA.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Three residential structures on one parcel, sold together; 2,790 SF total across 864 Louise St., 866 Louise St., and 1520 Utah St.; 864 Louise St. features a renovated building with a loft
