Two-Story 10-Unit Apartment
For Sale
$650,000
4627 Tigerland Ave, Baton Rouge, LA 70820
Remodeled studio apartments include private bathrooms, kitchen cabinets, appliances, and 12-month leases.
Property Size4,400 SF
Price / SF$147.73
Days on Market54
Property Features for 4627 Tigerland Ave
General Information
Standard status
Active
Size
4,400 SF
Property subtype
Multi-Family
Occupancy
70%
Units
Unit Mix
10 x studio
Multifamily Units
10
Building Details
Buildings
1
Stories
2
Construction
shotgun style
Listing Agency:
Castro Real Estate Services, LLC
(225) 936-7643
Listed By:
Miguel Castro · License #995703492
Source:
Smithsquared
Added: Jul 10
Changed: Aug 30
Last Checked: Aug 30 at 8:30PM
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 Castro Real Estate Services, LLC
Investment Insights
Based on property information with market context.
This two-story apartment building contains 10 studio units totaling 4,400 square feet. Each approximately 400-square-foot unit has an open layout, closet, private bathroom, kitchen cabinets, stove, refrigerator, and window unit. The property was built in 1972, and the units have been remodeled. Current occupancy is 70%, with leases structured for 12-month terms and rents deposited directly. The property is zoned A4.
Located at 4627 Tigerland Ave in Baton Rouge, the complex sits within Tigerland, near the LSU golf course and the area's student-oriented bar and restaurant scene. Fred's Bar and Grill, Mike's, and The House are identified nearby in the property information. The property is also described as being near a proposed LSU sports arena, though no development outcome is established.
Located at 4627 Tigerland Ave in Baton Rouge, the complex sits within Tigerland, near the LSU golf course and the area's student-oriented bar and restaurant scene. Fred's Bar and Grill, Mike's, and The House are identified nearby in the property information. The property is also described as being near a proposed LSU sports arena, though no development outcome is established.
Key Highlights
- 10‑unit apartment complex with 4,400 square feet
- Approximately 400‑square‑foot studio units
- Private bathroom, closet, kitchen cabinets, stove, refrigerator, and window unit in each unit
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
$40,287
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
6.20%
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%
$805,740
$805.7K
Cap Rate 7%
$575,529
$575.5K
Cap Rate 9%
$447,633
$447.6K
Market Conditions
NOI Build-Up for 4,400 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
$77.1K $17.52/SF
− Vacancy
−$3.8K −$0.87/SF
EGI
$73.2K $16.65/SF
− OpEx
−$33.0K −$7.49/SF
NOI
$40.3K $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%
$805,740
Cap Rate 7%
$575,529
Cap Rate 9%
$447,633
Alternative Uses
Best Use
Apartment 5plus
$575.5K
$503.6K – $671.5K
NOI $40,287 @ 7.0% cap · market cap 6.20%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.05M
$922.0K – $1.23M
NOI $73,763 @ 7.0% cap · market cap 11.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
10
Residential units
70%
Occupancy
Location Intelligence
Trade Area within ½ mile
281
Businesses Nearby
Explore this area
Business Placement
Demographics for 70820, LA
23,470
Population
11,589
Households
2
Avg Household Size
26
Median Age
54%
College-Educated
94%
High-School Grad
20.6 sq mi
ZIP Area
1,139
Density / Sq Mi
$47,556
Median Household Income
$23,397
Median Earnings
$1,057
Median Rent
$293,900
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 - Remodeled studio apartments include private bathrooms, kitchen cabinets, appliances, and 12-month leases.
Where is this apartment building located?
The property is located at 4627 Tigerland Ave Baton Rouge, LA.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 10‑unit apartment complex with 4,400 square feet; Approximately 400‑square‑foot studio units; Private bathroom, closet, kitchen cabinets, stove, refrigerator, and window unit in each unit
