40-Unit Apartment
For Sale
Contact for pricing
187 Venable Lane, Monroe, LA 71203
Modern two-bedroom residences with two baths and current occupancy in a commercially zoned multifamily community.
Property Size1,020 SF
Price / SF$9,019
Days on Market62
Property Features for 187 Venable Lane
General Information
Standard status
Active
Size
1,020 SF
Class
A
Property subtype
Multifamily
Zoning
Commercial
Occupancy
95%
Investment Type
Stabilized
Net Operating Income
$608,025
Building Details
Year Built
2024
Stories
1
Units
40
Tenancy
Multi
Listing Agency:
The Palmer Group
Listed By:
Ramiro Gamez · License #995697701
Source:
Crexi
Added: Aug 13
Changed: Oct 6
Last Checked: Oct 12 at 5:01PM
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 The Palmer Group
Investment Insights
Based on property information with market context.
This 40-unit multifamily community features modern two-bedroom, two-bath residences and is currently 95% occupied. The property is zoned Commercial and offers a consistent unit configuration across the community. Ownership reports limited near-term capital needs and waitlist demand, while future lease rollovers are expected to support monthly market rents of $1,775 beginning in Q4 2026.
The property serves the Sterlington and North Monroe market with convenient access to U.S. Highway 165. Its setting connects residents with Monroe’s employment, retail, healthcare, university, airport, and service offerings while remaining within the suburban Sterlington area.
The property serves the Sterlington and North Monroe market with convenient access to U.S. Highway 165. Its setting connects residents with Monroe’s employment, retail, healthcare, university, airport, and service offerings while remaining within the suburban Sterlington area.
Key Highlights
- 40‑unit multifamily community
- Two‑bedroom, two‑bath residential units
- 95% current occupancy
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$668,054
Cap Rate
7.26%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$13,361,080
$13.4M
Cap Rate 7%
$9,543,629
$9.5M
Cap Rate 9%
$7,422,822
$7.4M
Market Conditions
NOI Build-Up for 1,020 SF
Gross rent
$1.34M $1,310.04/SF
− Vacancy
−$121.6K −$119.21/SF
EGI
$1.21M $1,190.83/SF
− OpEx
−$546.6K −$535.87/SF
NOI
$668.1K $654.95/SF
Area
Ouachita County, LA
Vacancy
9.10%
Lease Rate
$1,310.04 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$13,361,080
Cap Rate 7%
$9,543,629
Cap Rate 9%
$7,422,822
Alternative Uses
Best Use
Apartment 5plus
$9.54M
$8.35M – $11.13M
NOI $668,054 @ 7.0% cap · market cap 7.26%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$10.99M
$9.61M – $12.82M
NOI $769,074 @ 7.0% cap · market cap 8.36%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Location Intelligence
Trade Area within ½ mile
96
Businesses Nearby
Explore this area
Business Placement
Demographics for 71203, LA
37,438
Population
17,178
Households
2.2
Avg Household Size
35
Median Age
32%
College-Educated
90%
High-School Grad
118.5 sq mi
ZIP Area
316
Density / Sq Mi
$46,822
Median Household Income
$35,630
Median Earnings
$987
Median Rent
$181,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - Modern two-bedroom residences with two baths and current occupancy in a commercially zoned multifamily community.
Where is this apartment building located?
The property is located at 187 Venable Lane Monroe, LA.
What is the asking price?
The asking price for this property is $9,200,000.
What are key features of this property?
This property features: 40‑unit multifamily community; Two‑bedroom, two‑bath residential units; 95% current occupancy
