2959 Greenwood Dr Baton Rouge, LA 70808

This exceptional 8-unit apartment complex in Baton Rouge, Louisiana, presents a compelling investment opportunity. Located at 2959 Greenwood Dr, 70808, in the dynamic Perkins Overpass area, this property comprises three two-story buildings totaling 7,016 square feet. Two front buildings, constructed of block, each house two spacious 2-bedroom, 1-bathroom apartments. The rear building, of frame construction, contains four 1-bedroom, 1-bathroom units. Currently operating at 100% occupancy, the property generates a strong pro-forma NOI of $63,956, resulting in a 7.53% cap rate. The asking price is $849,500, translating to $106,188 per unit and $121.08 per square foot. One-bedroom units currently rent for $800-$1000 per month, while two-bedroom units rent for $700-$1000 per month, with several long-term tenants. Ample parking is available. The property benefits from its proximity to thriving commercial areas and the planned multi-use linear park under the Overpass, poised to significantly enhance the area's walkability and property values. This is a rare chance to acquire a high-performing asset in a rapidly developing neighborhood. The property is located in East Baton Rouge Parish.