5665 Mcclelland Dr, Baton Rouge, LA 70805

Property Details for 5665 Mcclelland Dr

Lot size

2.72 lot acres

Property type

Commercial real estate

Description

The Palms Apartments, a 75-unit apartment complex located at 5665 McClelland Dr, Baton Rouge, LA 70805, presents a compelling investment opportunity. This established property, built in 1970, sits on a 2.72-acre lot and offers a gross building area of 66,884 square feet, with a net rentable area of 55,737 square feet. The complex comprises six buildings, creating a manageable and attractive community. Priced at $2,840,000, this translates to $37,867 per unit and $42.46 per square foot. Its convenient location just off Airline Highway provides excellent access to major thoroughfares and local amenities, enhancing its appeal to residents. The property's near-stabilized occupancy suggests consistent rental income, a key factor for investors seeking a reliable return. Further enhancing its desirability is the inclusion of an on-site laundry facility for resident convenience. This multifamily investment offers a blend of established income and potential for future growth, making it an attractive option in the Baton Rouge market. The property's proximity to Airline Highway ensures easy access to commuting routes and local services. The 75 units are spread across six buildings, creating a manageable and inviting community atmosphere. The inclusion of an on-site laundry facility adds to the convenience and desirability of the property for residents. This property is near stabilized, indicating a steady occupancy rate and consistent rental income.

Location Insight

City

Baton Rouge

County

East Baton Rouge Parish

State

Louisiana

Longitude

-91.135257131458

Latitude

30.501317924294