For Sale
$2,840,000

5665 Mcclelland DrBaton Rouge, LA 70805

75-Unit Apartment Complex, Prime Location

Overview

Added:
Dec 11, 2024
Days on market:
114
The Palms Apartments, a 75-unit apartment complex located at 5665 McClelland Dr, Baton Rouge, LA 70805, presents a compelling investment opportunity. This established property, built in 1970, sits on a 2.72-acre lot and offers a gross building area of 66,884 square feet, with a net rentable area of 55,737 square feet. The complex comprises six buildings, creating a manageable and attractive community. Priced at $2,840,000, this translates to $37,867 per unit and $42.46 per square foot. Its convenient location just off Airline Highway provides excellent access to major thoroughfares and local amenities, enhancing its appeal to residents. The property's near-stabilized occupancy suggests consistent rental income, a key factor for investors seeking a reliable return. Further enhancing its desirability is the inclusion of an on-site laundry facility for resident convenience. This multifamily investment offers a blend of established income and potential for future growth, making it an attractive option in the Baton Rouge market. The property's proximity to Airline Highway ensures easy access to commuting routes and local services. The 75 units are spread across six buildings, creating a manageable and inviting community atmosphere. The inclusion of an on-site laundry facility adds to the convenience and desirability of the property for residents. This property is near stabilized, indicating a steady occupancy rate and consistent rental income.

Highlights

  • 75-unit apartment complex in Baton Rouge, LA.
  • $2,840,000 asking price, $37,867 per unit, $42.46 per square foot.
  • 66,884 square foot gross building area on a 2.72-acre lot.
  • Near-stabilized occupancy with consistent rental income.
  • Convenient Airline Highway location with easy access to amenities.
  • On-site laundry facility.

Property Details for 5665 Mcclelland Dr

Property type
Apartment buildings
Square Feet
66,884 SF
Lot Size (sq. ft)
118,483 SF
Units
75

Location Insight

City
Baton Rouge
County
East Baton Rouge Parish
State
Louisiana
Latitude
30.501317924294
Longitude
-91.135257131458
5665 Mcclelland Dr, Baton Rouge, Louisiana

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
5665 Mcclelland Dr
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message