Three-Property Multifamily
864/866 Louise St, Baton Rouge, LA 70802
For Sale
$400,000
Updated residential buildings with varied layouts, contemporary finishes, and proximity to Downtown Baton Rouge and LSU.
Property Size2,790 SF
Price / SF$143.37
Days on Market55
Property Features for 864/866 Louise St
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Building Details
Buildings
Listing Agency:
LPT Realty, LLC Bluebonnet
Listed By:
Denetria Burris · License LA B26079
Source:
Smartmove225
Added: Sep 21
Changed: Oct 25
Last Checked: Oct 20 at 5:57PM
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 LPT Realty, LLC Bluebonnet
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Investment Insights
Based on property information with market context.
This multifamily offering combines three residential structures on one parcel at 864 Louise St., 866 Louise St., and 1520 Utah St. The portfolio totals 2,790 square feet and includes a renovated loft-style building at 864 Louise St., a two-bedroom, one-bath residence at 866 Louise St., and a two-bedroom, two-bath property at 1520 Utah St. All three properties are being sold together.
Recent updates include granite countertops, new fencing, and roofs approximately three years old. The buildings have no carpet, and the varied layouts provide multiple residential configurations, including the ability to occupy one structure while renting the others. The property is located just minutes from Downtown Baton Rouge and LSU.
Recent updates include granite countertops, new fencing, and roofs approximately three years old. The buildings have no carpet, and the varied layouts provide multiple residential configurations, including the ability to occupy one structure while renting the others. The property is located just minutes from Downtown Baton Rouge and LSU.
Key Highlights
- Three residential structures on one parcel, sold together
- 2,790 SF total across 864 Louise St., 866 Louise St., and 1520 Utah St.
- 864 Louise St. features a renovated building with a loft
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,546
Cap Rate
6.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$510,920
$510.9K
Cap Rate 7%
$364,943
$364.9K
Cap Rate 9%
$283,844
$283.8K
Market Conditions
NOI Build-Up for 2,790 SF
Gross rent
$48.9K $17.52/SF
− Vacancy
−$2.4K −$0.87/SF
EGI
$46.4K $16.65/SF
− OpEx
−$20.9K −$7.49/SF
NOI
$25.5K $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 Rate 5%
$510,920
Cap Rate 7%
$364,943
Cap Rate 9%
$283,844
Alternative Uses
Best Use
Apartment 5plus
$364.9K
$319.3K – $425.8K
NOI $25,546 @ 7.0% cap · market cap 6.39%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$668.2K
$584.7K – $779.6K
NOI $46,773 @ 7.0% cap · market cap 11.69%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Location Intelligence
Trade Area within ½ mile
564
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
$105,100
Median Home Value
Market
Average Price Trend$/SF for Multifamily properties in Baton Rouge, LA
Properties on Market for Multifamily properties in Baton Rouge
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Multifamily property - Updated residential buildings with varied layouts, contemporary finishes, and proximity to Downtown Baton Rouge and LSU.
Where is this multifamily property located?
The property is located at 864/866 Louise St Baton Rouge, LA.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Three residential structures on one parcel, sold together; 2,790 SF total across 864 Louise St., 866 Louise St., and 1520 Utah St.; 864 Louise St. features a renovated building with a loft
