$315,000
$350,000
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3,325 SqFt
SOLD DATE : 03/15/2024
Key Details
Sold Price $315,000
Property Type Multi-Family, Commercial
Listing Status Sold
Purchase Type For Sale
Square Footage 3,325 sqft
Price per Sqft $94
Subdivision Louisiana Terrace
MLS Listing ID 2024001798
Lot Size 7,405 Sqft
Property Description
Investment Property near LSU with Huge Rent Income Potential and Opportunity for Serious Appreciation! Lee & Associates is pleased to present this rare opportunity to acquire a 5-unit multifamily property on a large lot that is so close to LSU. Four apartments measure approximately 614 sqft with the fifth measuring about 766 sqft, and the property also includes a 20x25' metal building in the back, which is currently leased as a studio/workspace. All of the units have hardwood floors and tons of natural light, and each unit is separately metered for electricity, gas and water. With some cleanup, the property boasts enormous potential for rental income (market rents for similar units in the area average $800+/month), making it an excellent opportunity for investors seeking solid returns. Additionally, with development projects being considered nearby, including the ongoing $40+ million project to rehabilitate the LSU Lakes, the prospect for appreciation is significant, making this property even more attractive as a long term investment. This property represents an excellent opportunity to secure a prime location with a tremendous outlook for growth.
Location
State LA
Parish East Baton Rouge
Area Ebr Mls Area 52
Schools
School District East Baton Rouge
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