64-Unit Multifamily Property in Baton
5750 Florida Boulevard Baton Rouge, LA 70806
5750 Florida Boulevard, Baton Rouge, LA, 70806
$5,800,000
For Sale
$5,800,000
Multifamily property with upside potential in high-demand Baton Rouge submarket.
Property Size38,000 SF
Price / SF$152.63
Days on Market127
Property Features for 5750 Florida Boulevard
General Information
- Standard status
- Active
- Size
- 38,000 SF
- Property subtype
- MULTI FAMILY FOR SALE / Townhouse
Building Details
- Year Built
- 1978
Listing Agency
Bridgewater Realty Advisors, LLC
(504) 901-0463
Listed by
Miguel A Castro · License #995703492
(225) 936-7643
Source
Compass
Added: Mar 13 Checked: Jul 17 at 4:28 am
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 Bridgewater Realty Advisors, LLC
Investment Insights
Based on property information with market context.
River Pines Apartments is a 64-unit multifamily property located on Florida Blvd in Baton Rouge. The complex features a mix of 15 one-bedroom units and 49 two-bedroom units, offering a balanced unit mix. The property has strong tenant demand, strong historical occupancy and reliable cash flow. All major systems are maintained, and market rents support further upside through light renovations. The property is located in a high-demand Baton Rouge submarket close to major employers, retail and transit routes. The seller has intentionally kept rental rates low to ensure high occupancy and reduce turnover.
Key Highlights
- Strong historical occupancy and reliable cash flow with an in‑place NOI of $423,071 and a 7.29% cap rate.
- Opportunity to increase NOI to $520,426 (8.97% cap rate) by raising rents to market value.
- Low management intensity in a high‑demand Baton Rouge submarket.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $665.8k | $17.52 |
| − Vacancy | −$33.2k | −$0.87 |
| EGI | $632.6k | $16.65 |
| − OpEx | −$284.7k | −$7.49 |
| NOI | $347.9k | $9.16 |
38,000 SF · lease $17.52/SF/yr · vacancy 4.98% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$4.97M
$4.35M – $5.80M
NOI $347,933 @ 7.0% cap · market cap 6.00%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$9.10M
$7.96M – $10.62M
NOI $637,046 @ 7.0% cap · market cap 10.98%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
River Pines Apartments
Apartment Building
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Multifamily property with upside potential in high-demand Baton Rouge submarket.
Where is this apartment building located?
The property is located at 5750 Florida Boulevard Baton Rouge, LA.
What is the asking price?
The asking price for this property is $5,800,000.
What are key features of this property?
This property features: Strong historical occupancy and reliable cash flow with an in‑place NOI of $423,071 and a 7.29% cap rate.; Opportunity to increase NOI to $520,426 (8.97% cap rate) by raising rents to market value.; Low management intensity in a high‑demand Baton Rouge submarket.
