225-270-5095
11620 Airline Hwy, Baton Rouge, LA for Sale
Apartments - FOR SALE
1/17
null | Request Cap Rate

11620 Airline Hwy
Baton Rouge, LA 70816
Shenandoah


HIGHLIGHTS

  • Price is TBD by Market - contact listing agents for pricing guidance.
  • Strong N O I - T’3 Annualized NOI at $610,000 and Hybrid NOI at $617,000.
  • Average Monthly Rents - $1,019/month and average rents PSF at $1.06/sf.
  • Great Location - Situated on Airline Hwy., Devonshire Apartment benefits from easy access to major highways including Siegen, I-10 and I-12
  • Strong Occupancy Rate - Currently at strong occupancy levels (averaging 94% over the last 18 months)
  • Diverse Unit Mix - This property offers a variety of unit types (976 SF average unit size)

OVERVIEW

CBRE Baton Rouge invites you to explore Devonshire Apartments of Louisiana, a 100- unit apartment community located at 11620 Airline Hwy, Baton Rouge, LA. This prime market-rate multifamily asset offers a diverse range of unit types, accommodating tenants’ needs from efficiencies to three-bedroom/two-bathroom apartments. Devonshire Apartments boasts an excellent location, adjacent to Siegen Lane and just minutes from Interstate 10 and Interstate 12. Property is located off Airline Highway, a major thoroughfare running north and south through Baton Rouge to Ascension Parish, providing convenient access to a variety of shopping, dining, employers and entertainment options throughout Baton Rouge. The property currently operates at strong occupancy levels, with average rents reflecting competitive market conditions. This well-maintained community features 37 renovated units completed in 2021, presenting significant upside potential for new owners through the opportunity to renovate more units and increase rental rates and enhance property value. This is a unique opportunity to invest in a well-located asset with immediate cash flow and substantial upside potential through value-add strategies. Contact Agents for any additional information of questions.

FOR SALE DETAILS

PRICE

Request Info for Price

# OF UNITS

100

CAP RATE

Request Cap Rate

% LEASED

93%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Devonshire Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1974

PARKING SPACES

186

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

MF

APN/PARCEL ID

02055074

ASK ABOUT THIS PROPERTY

225-270-5095

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225-270-5095

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