36-Unit Renovated Apartment
For Sale
$4,500,000
3150 O'Neal Ln, Baton Rouge, LA 70816
Renovated apartment community with updated interiors, new roofs, and full occupancy across multiple buildings.
Property Size40,374 SF
Price / SF$111.46
Days on Market346
Property Features for 3150 O'Neal Ln
General Information
Standard status
Active
Size
40,374 SF
Property subtype
Multifamily
Occupancy
100%
Additional Details
Multifamily Units
36
Building Details
Year Built
1980
Buildings
9
Listing Agency:
Borne2Sell Realty
(225) 937-9320
Listed By:
Michael Borne · License #0995691817
(225) 937-9320
Source:
Lacdb.resimplifi
Added: Sep 18, 2025
Changed: Aug 29
Last Checked: Aug 29 at 6:08PM
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 Borne2Sell Realty
Investment Insights
Based on property information with market context.
This 36-unit apartment property is arranged across 9 buildings and has undergone renovation inside and out. The unit mix includes three-bedroom, 2.5-bath residences measuring 1,495 square feet and two-bedroom, 2.5-bath residences measuring 1,248 square feet. Interior updates include contemporary finishes, while exterior improvements include new roofs, maintained landscaping, and common areas.
The property is reported at 100% occupancy. Built in 1980, it combines a multi-building layout with renovated residential interiors and updated exterior components. The mix of two- and three-bedroom units provides distinct floor plan options within the community.
The property is reported at 100% occupancy. Built in 1980, it combines a multi-building layout with renovated residential interiors and updated exterior components. The mix of two- and three-bedroom units provides distinct floor plan options within the community.
Key Highlights
- 36 units distributed among 9 buildings
- A and D units: 3 bedrooms, 2.5 baths, and 1,495 square feet
- B and C units: 2 bedrooms, 2.5 baths, and 1,248 square feet
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
$369,669
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
8.21%
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%
$7,393,380
$7.4M
Cap Rate 7%
$5,280,986
$5.3M
Cap Rate 9%
$4,107,433
$4.1M
Market Conditions
NOI Build-Up for 40,374 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
$707.4K $17.52/SF
− Vacancy
−$35.2K −$0.87/SF
EGI
$672.1K $16.65/SF
− OpEx
−$302.5K −$7.49/SF
NOI
$369.7K $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%
$7,393,380
Cap Rate 7%
$5,280,986
Cap Rate 9%
$4,107,433
Alternative Uses
Best Use
Apartment 5plus
$5.28M
$4.62M – $6.16M
NOI $369,669 @ 7.0% cap · market cap 8.21%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$9.67M
$8.46M – $11.28M
NOI $676,844 @ 7.0% cap · market cap 15.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
36
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
354
Businesses Nearby
Explore this area
Business Placement
Demographics for 70816, LA
45,232
Population
21,024
Households
2.2
Avg Household Size
34
Median Age
36%
College-Educated
94%
High-School Grad
16.3 sq mi
ZIP Area
2,775
Density / Sq Mi
$65,894
Median Household Income
$39,344
Median Earnings
$1,155
Median Rent
$232,300
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 apartment community with updated interiors, new roofs, and full occupancy across multiple buildings.
Where is this apartment building located?
The property is located at 3150 O'Neal Ln Baton Rouge, LA.
What is the asking price?
The asking price for this property is $4,500,000.
What are key features of this property?
This property features: 36 units distributed among 9 buildings; A and D units: 3 bedrooms, 2.5 baths, and 1,495 square feet; B and C units: 2 bedrooms, 2.5 baths, and 1,248 square feet
