4759 Earl Gros AveBaton Rouge, LA 70820
- Apartment buildings
- 49,579 SF
Property Details for 4759 Earl Gros Ave
- Year built
- 1975
- Property size (Sq ft)
- 49,579 SF
- Property type
- Apartment buildings
Description
This 74-unit apartment building, located at 4759 Earl Gros Ave, Baton Rouge, LA 70820, presents a compelling value-add investment opportunity. Currently in receivership and requiring extensive renovations, the property offers significant upside potential. The 49,579 square foot complex, built in 1975, consists of five, three-story buildings situated on a 91,402 square foot lot (APN: 00763179, 00763233, 00763217, 00763195, 00763187, 00763209, 00763225). The asking price is $1,995,000 ($40.24/sq ft, $26,959.46/unit), with a pro-forma NOI of $286,526 and a pro-forma cap rate of 14.36%. Currently zoned A4, the property is ideally positioned 1.5 miles from Louisiana State University, providing access to a large pool of potential tenants. Existing amenities include large courtyards and a pool. The property's proximity to national credit tenants such as McDonald's, Sonic, Taco Bell, and Yogurtland, along with various local restaurants and bars, further enhances its appeal. All units are currently boarded up and require complete rehabilitation. This distressed asset presents a unique chance to create attractive housing for students and staff. The property is being sold as-is.
Location Insight
- City
- Baton Rouge
- County
- East Baton Rouge Parish
- State
- Louisiana
- Latitude
- 30.3916
- Longitude
- -91.1796
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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].