4759 Earl Gros Ave Baton Rouge, LA 70820
- Apartment buildings
- 49,579 SF
Current Use by Public Records
- University Communities / Student Dormitory
Property Details for 4759 Earl Gros Ave
- Year built
- 1975
- Property size
- 49,579 SF
- Property type
- Apartment buildings
Description
This 74-unit apartment building, located at 4759 Earl Gros Ave, Baton Rouge, LA 70820, presents a compelling value-add investment opportunity. Currently in receivership and requiring extensive renovations, the property offers significant upside potential. The 49,579 square foot complex, built in 1975, consists of five, three-story buildings situated on a 91,402 square foot lot (APN: 00763179, 00763233, 00763217, 00763195, 00763187, 00763209, 00763225). The asking price is $1,995,000 ($40.24/sq ft, $26,959.46/unit), with a pro-forma NOI of $286,526 and a pro-forma cap rate of 14.36%. Currently zoned A4, the property is ideally positioned 1.5 miles from Louisiana State University, providing access to a large pool of potential tenants. Existing amenities include large courtyards and a pool. The property's proximity to national credit tenants such as McDonald's, Sonic, Taco Bell, and Yogurtland, along with various local restaurants and bars, further enhances its appeal. All units are currently boarded up and require complete rehabilitation. This distressed asset presents a unique chance to create attractive housing for students and staff. The property is being sold as-is.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Baton Rouge
- County
- East Baton Rouge Parish
- State
- Louisiana
- Longitude
- -91.1796
- Latitude
- 30.3916
