This Multifamily Property is Off-Market.

4250 Blount Road
Baton Rouge, LA 70807 ·

117 Spaces · Multifamily For Sale

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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

Description

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.

Highlights

  • 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.

Research

4250 Blount Road, Baton Rouge, LA 70807 (East Baton Rouge County)

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