About 5750 Florida Bl
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.
Features of 5750 Florida Bl
| MLS® # | 2529356 |
|---|---|
| Price | $5,800,000 |
| Bedrooms | 113 |
| Bathrooms | 64.00 |
| Full Baths | 64 |
| Square Footage | 38,000 |
| Acres | 2.76 |
| Year Built | 1978 |
| Type | Multi-Family |
| Sub-Type | Apartment, Traditional |
| Status | Active |
Community Information
| Address | 5750 Florida Bl |
|---|---|
| City | Baton Rouge |
| County | East Baton Rouge |
| State | Louisiana |
| Zip Code | 70806 |
Amenities
| Parking | Parking Lot |
|---|---|
| Is Waterfront | No |
| Has Pool | No |
Interior
| Heating | Central |
|---|---|
| Cooling | CentralAir |
| Fireplace | No |
| Has Basement | No |
Exterior
| Exterior | Brick, Block |
|---|---|
| Lot Description | 1 to 5 Acres, City Lot |
| Roof | Flat |
| Construction | Brick, Block |
| Foundation | Slab |
Additional Information
| Days on Market | 14 |
|---|---|
| Foreclosure | No |
| Short Sale | No |
| RE / Bank Owned | No |
| HOA Fees | 0.00 |
| Listing Provided By | Bridgewater Realty Advisors, LLC |