5750 FLORIDA Boulevard

River Pines Apartments is a 64-unit multifamily property located on Florida Blvd in Baton Rouge. The complex features a mix of (15) one-bedroom units and (49) two-bedroom units, offering a balanced unit mix with strong tenant demand strong historical occupancy and reliable cash flow. All major systems are maintained and market rents support further upside through light renovations. With an in place NOI of $423,071 and an 7.29% cap rate at the asking price, River Pines provides stable yield and low management intensity in a high-demand Baton Rouge submarket close to major employers, retail and transit routes. The seller has intentionally kept rental rates low to ensure high occupancy and reduce turnover. When the rents are increased to actual market value, NOI can be boosted to $520,426 or a 8.97% cap rate.

Listing ID:

NO2558044

Parish

East Baton Rouge

Area

EBR MLS Area 61

Assessment

00007145

Legal Desc

WARD: 1-3, SUBDIVISION: CLOUD, HARRY TRACT, LOT: T-1-A. TRACT T-1-A, RESUB. OF TRACT T OF THE SUB. OF TRACT C LOT A-3-B, & HARRY CLOUD PROP. IN SEC.82, T7S,R1E(RIVER PINES APT.) 64 UNITS NOTE: ACT READS TRACT T-1-A

Parking:

Parking Lot

Cooling

Central Air

Heating

Central

Lot Dimensions

2.75 ac

Construction

Block, Brick

Lot Size Area

2.75 ac