8220 Ned Ave Baton Rouge, LA 70820

Property Details for 8220 Ned Ave

Year built

1980

Property size

11,080 SF

Property type

Commercial real estate

Description

This exceptional investment opportunity presents a portfolio of twelve apartment units situated across three well-maintained buildings in Baton Rouge, Louisiana. Located within a half-mile radius, these properties offer convenience and management efficiency. The portfolio comprises three two-story buildings, totaling 11,080 square feet, built in the 1980s and currently operating at 92% occupancy (as of August 28, 2024). Each of the twelve units features two bedrooms and two bathrooms, complete with washer/dryer connections and ceramic tile flooring. Recent upgrades include roof replacements (February-May 2024), with warranties on two of the three buildings. All units are individually metered for utilities (tenants responsible except for trash), and the property is located in a flood zone X area, having avoided flooding during the August 2016 event. The current asking price is $925,000, translating to $77,083 per unit and $83.48 per square foot. Projected rents are $875 per month, representing a strong potential for future income growth. The property is currently professionally managed, and the buildings are zoned for multifamily use (MF). This stabilized investment offers a compelling opportunity for both seasoned and first-time multifamily investors. The properties are located at 8220 and 8226 Ned Ave, and 8251 Skysail Ave, Baton Rouge, LA 70820. The buildings are currently equipped with individual dumpsters, presenting a potential revenue stream for the new owner through trash service reimbursements.