5750 FLORIDA Boulevard, Baton Rouge, Louisiana, 70806

Utilities: Natural Gas Available
Water Source: Public
Sewer: Public Sewer
Parking Features: Parking Lot
Architectural Style: Traditional
Cooling on Property:

Listed by Bridgewater Realty Advisors, Bryce Danna-Marullo

$5,250,000

38,000 Sqft

2.76 Acres

113 bd

64 ba

#2558044

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 $335k and an 6.39% cap rate at the asking price, River Pines provides stable yield and low management intensity in a high-demand Baton Rouge submarket 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 $536,587 or a 10.22% cap rate.