650 Central Ave Jefferson, LA 70121

Property Details for 650 Central Ave

Year built

1973

Property size

43,000 SF

Property type

Commercial real estate

Description

This exceptional 43,000 square foot commercial apartment building, situated on a 0.96-acre lot in Jefferson, LA, presents a compelling investment opportunity. Ideally located between Airline Highway and Jefferson Highway, this property enjoys convenient proximity to a hospital, restaurants, and grocery stores. The complex comprises 51 units, offering a diverse mix of housing options to cater to a wide range of tenants. These include two studio apartments (500 sq ft each), several one-bedroom apartments (560 sq ft each), and a number of two-bedroom, one-and-a-half-bathroom townhouse-style apartments (1100 sq ft each). The majority of units boast recent renovations, featuring new vinyl flooring and updated appliances including refrigerators, stoves, and dishwashers. Ample parking surrounds the entire building for tenant convenience. A key feature is a dedicated third-floor unit suitable for owner occupancy or use as an office. The property also includes a refreshing community pool and on-site coin-operated laundry facilities. The building's roof is only two years old, ensuring long-term structural integrity. Further enhancing its appeal, the owner covers water expenses for all units, minimizing operational costs. This well-maintained, strategically located complex offers a strong return on investment potential. The rectangular building layout efficiently maximizes space and provides a pleasant living environment for residents. This is a rare opportunity to acquire a thriving multifamily property in a high-demand location. The asking price is $4,225,000.

Location Insight

City

Jefferson

County

Jefferson

State

Louisiana

Longitude

-90.17303

Latitude

29.96443