Occupied
For Sale
$390,000
1664 Clear Lake Ave, Baton Rouge, LA 70808
Four leased residential units provide an established multifamily configuration near shopping, dining, and interstate connections.
Property Size3,823 SF
Price / SF$102.01
Days on Market19
Property Features for 1664 Clear Lake Ave
General Information
Standard status
Active
Size
3,823 SF
Property subtype
Residential Income
Occupancy
100%
Additional Details
Highway Access
Yes
Multifamily Units
4
Listing Agency:
Keller Williams Realty-First Choice
(225) 288-0564
Listed By:
Melody Newman · License #0995700483
(225) 288-0564
Source:
Exprealty
Added: Jul 24
Changed: Aug 11
Last Checked: Aug 11 at 7:43AM
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 Keller Williams Realty-First Choice
Investment Insights
Based on property information with market context.
This quadplex contains four residential units within a 3,823-square-foot multifamily property. All units are currently leased, giving the asset an established occupancy profile for a buyer seeking an income-producing residential property. The building is described as well maintained and is offered with its existing leasing arrangement in place.
The property is located at 1664 Clear Lake Ave in Baton Rouge, Louisiana. Shopping and dining are nearby, and the site offers convenient access to the interstate. These surrounding conveniences support the property’s established residential setting while keeping the asset connected to everyday services and regional transportation routes.
The property is located at 1664 Clear Lake Ave in Baton Rouge, Louisiana. Shopping and dining are nearby, and the site offers convenient access to the interstate. These surrounding conveniences support the property’s established residential setting while keeping the asset connected to everyday services and regional transportation routes.
Key Highlights
- Four‑unit quadplex configuration
- 3,823‑square‑foot multifamily property
- All units currently leased
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
$35,004
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
8.98%
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%
$700,080
$700.1K
Cap Rate 7%
$500,057
$500.1K
Cap Rate 9%
$388,933
$388.9K
Market Conditions
NOI Build-Up for 3,823 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
$67.0K $17.52/SF
− Vacancy
−$3.3K −$0.87/SF
EGI
$63.6K $16.65/SF
− OpEx
−$28.6K −$7.49/SF
NOI
$35.0K $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%
$700,080
Cap Rate 7%
$500,057
Cap Rate 9%
$388,933
Alternative Uses
Best Use
Multifamily LT 5
$563.8K
$493.3K – $657.8K
NOI $39,467 @ 7.0% cap · market cap 10.12%
Second Best
Apartment 5plus
$500.1K
$437.6K – $583.4K
NOI $35,004 @ 7.0% cap · market cap 8.98%
Theoretical Best
Specialty Retail
$915.6K
$801.1K – $1.07M
NOI $64,090 @ 7.0% cap · market cap 16.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
809
Businesses Nearby
Explore this area
Business Placement
Demographics for 70808, LA
32,510
Population
18,833
Households
1.7
Avg Household Size
35
Median Age
65%
College-Educated
97%
High-School Grad
12.0 sq mi
ZIP Area
2,709
Density / Sq Mi
$69,078
Median Household Income
$41,162
Median Earnings
$1,283
Median Rent
$392,600
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Four leased residential units provide an established multifamily configuration near shopping, dining, and interstate connections.
Where is this quadplex located?
The property is located at 1664 Clear Lake Ave Baton Rouge, LA.
What is the asking price?
The asking price for this property is $390,000.
What are key features of this property?
This property features: Four‑unit quadplex configuration; 3,823‑square‑foot multifamily property; All units currently leased
