This property is Off-Market
4250 Blount Road
Baton Rouge, LA 70807 ·
117 Spaces · Multifamily For Sale
Granberrys MH Pk
|Price||N/A||Property Use Type||Investment|
|No. Spaces||117||Cap Rate||10.26%|
|Property Type||Multifamily||Year Built||1977|
|Property Sub-type||Mobile Home/RV Community||Lot Size||14.40 AC|
|Listing ID: 14380437||Date Created: 10/24/2005||Last Updated: 06/11/2006|
PRINCIPALS ONLY: Immediate beneficiary of Hurricane Katrina. 117 space pk formerly with 65 vacancies now 100% full WITH waiting list as result of the storm. As of 9/6 FEMA contracted to rent all vacant lots at $500.00 per mo. Immediate annual projection of $542,000 Gross Rent for 2006. Est expenses of $295,861. NOI: $246,139.00 (10.26 Cap Rate) City water/sewer. Pk sits on 14.4 ac thought to be worth more than asking price due to local Industrial Park.
North of City of Baton Rouge and the Airport. At intersection of Plank Rd and Blount Rd. Older park with smaller lots but outstanding location to jobs, city services and local amenities. All local Baton Rouge parks at 100% occupancy as result of enormous growth from Hurricane Katrina.
- 100% occupied with waiting list
- City water/sewer
- Over $540,000 anticipated Annual Gross Income for '06
- Adjacent to Baton Rouge Industrial Park
- No Seller financing available.
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