Occupied Quadplex Near LSU
For Sale
$225,000
2389 Tennessee St, Baton Rouge, LA 70802
Residential Income, Baton Rouge, LA
Property Size1,703 SF
Lot Size0.05 Acres
Price / SF$132.12
Days on Market139
Property Features for 2389 Tennessee St
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Parking features
On Street
Appliances
Range/Oven, Refrigerator
Subdivision
South Baton Rouge
Elementary school district
East Baton Rouge
Middle school district
East Baton Rouge
High school district
East Baton Rouge
Directions
Bounding Streets: E BUCHANAN
Standard status
Active
Size
1,703 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Description
Ward: 1-3, Subdivision: South Baton Rouge, Lot: 34, Block: 38.
Legal Description
Ward: 1-3, Subdivision: South Baton Rouge, Lot: 34, Block: 38.
Utilities
Sewer type
Public Sewer
Heating system
Wall Furnace
Cooling system
Window Unit(s)
Water source
Public
Building Details
Floors in Building
2
Building materials
Brick Siding, Brick
Roof type
Composition
Listing Agency:
Keller Williams Realty Red Stick Partners
(225) 768-1800
Listed By:
Timothy Houk · License #0000075454
(225) 301-7467
Added: Apr 16
Changed: Aug 19
Last Checked: Sep 1 at 8:06AM
MLS# 2026006900
Copyright © 2026 Greater Baton Rouge Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This quadplex at 2389 Tennessee St in Baton Rouge contains 1,703 square feet on a 0.046-acre parcel. The building features brick construction, composition roofing, wall-furnace heating, and window-unit cooling. Range/oven and refrigerator appliances are included, while parking is available on the street.
The property is fully occupied and positioned near the LSU Lakes, with the university and major transit routes also identified in the surrounding context. Public water and public sewer serve the site. Its compact format and existing occupancy provide a straightforward multifamily asset profile in Baton Rouge’s 70802 area.
The property is fully occupied and positioned near the LSU Lakes, with the university and major transit routes also identified in the surrounding context. Public water and public sewer serve the site. Its compact format and existing occupancy provide a straightforward multifamily asset profile in Baton Rouge’s 70802 area.
Key Highlights
- Quadplex with 1,703 square feet of building area
- Fully occupied multifamily property
- 0.046‑acre parcel at 2389 Tennessee St, Baton Rouge, LA 70802
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
$17,581
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
7.81%
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%
$351,620
$351.6K
Cap Rate 7%
$251,157
$251.2K
Cap Rate 9%
$195,344
$195.3K
Market Conditions
NOI Build-Up for 1,703 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
$26.4K $15.48/SF
− Vacancy
−$1.2K −$0.73/SF
EGI
$25.1K $14.75/SF
− OpEx
−$7.5K −$4.42/SF
NOI
$17.6K $10.32/SF
Area
Baton Rouge, LA
Vacancy
4.73%
Lease Rate
$15.48 /SF/Yr
Expense Ratio
30.00%
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%
$351,620
Cap Rate 7%
$251,157
Cap Rate 9%
$195,344
Alternative Uses
Best Use
Multifamily LT 5
$251.2K
$219.8K – $293.0K
NOI $17,581 @ 7.0% cap · market cap 7.81%
Second Best
Apartment 5plus
$222.8K
$194.9K – $259.9K
NOI $15,593 @ 7.0% cap · market cap 6.93%
Theoretical Best
Specialty Retail
$407.9K
$356.9K – $475.8K
NOI $28,550 @ 7.0% cap · market cap 12.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
409
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Brick construction with public utilities and on-street parking supports a compact multifamily configuration.
Where is this quadplex located?
The property is located at 2389 Tennessee St Baton Rouge, LA.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: Quadplex with 1,703 square feet of building area; Fully occupied multifamily property; 0.046‑acre parcel at 2389 Tennessee St, Baton Rouge, LA 70802
