225-237-3343
5500 Perkins Rd, Baton Rouge, LA for Sale
Apartments - FOR SALE
1/14
null | Request Cap Rate

5500 Perkins Rd
Baton Rouge, LA 70808
Highlands/Perkins


HIGHLIGHTS

  • Strong, reliable, historic cash flow from a stabilized and high-occupancy property with room for increasing rents.
  • Exceptional infill location in the heart of Baton Rouge, LA near LSU, top medical centers, City Park, and high-end retail, with an 1-mile Average Hous
  • Gated property with secured 3.5 story parking structure, allowing for easy vehicular access to all three stories.
  • Highly amenitized property to attract the most desirable tenants and drive revenue.

OVERVIEW

The District Apartments presents a rare opportunity to acquire a Class A, institutional-quality multifamily asset in Baton Rouge’s most desirable submarkets. Constructed less than 10 years ago, this 312-unit community is located in one of the highest-income submarkets of Baton Rouge, surrounded by top-tier retail, dining, healthcare, and recreational amenities, minutes from LSU and the Baton Rouge Health District. A mix of 1-bedroom and 2-bedroom units in a gated community with resort amenities, this asset provides the opportunity for a buyer to continue to target the most desirable tenants in the market. Current-in-place rents are at $1.55 PSF, representing a 10.4% discount to market based on an average of seven comparable Class A properties, which are achieving $1.73 PSF. (Range: $1.55 PSF to $2.31 PSF). This delta offers a clear path to organic rent growth without requiring physical upgrades, positioning this asset for immediate mark-to-market upside upon lease rollover.

FOR SALE DETAILS

PRICE

Request Info for Price

# OF UNITS

312

CAP RATE

Request Cap Rate

% LEASED

95%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The District

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

2016

PARKING SPACES

-

LAND DETAILS

LAND ACRES

10.65 AC

LAND SF

463,870 SF

ZONING

C2

APN/PARCEL ID

00563781

ASK ABOUT THIS PROPERTY

William AdamsBeau Box Commercial Real EstateMore Info
225-237-3343

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William AdamsBeau Box Commercial Real EstateMore Info
225-237-3343

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