Broadmoor Plantation Apartments 10530 Florida Blvd 301 Unit Apartment Building For Sale Baton Rouge, LA 70815

Broadmoor Plantation, a 301-unit apartment complex located in Baton Rouge, Louisiana, represents a unique investment opportunity in the thriving real estate market. With an attractive unit mix, a favorable assumable HUD Loan, and significant value-add potential, this property offers a compelling case for prospective investors. The property features a diverse unit mix to cater to a wide range of tenant preferences, including 1Br/1Ba, 2Br/1.5Ba, 2Br/2Ba, 2Br/2.5Ba, 3Br/2Ba, 3Br/2.5Ba, and 4Br/2Ba configurations. Broadmoor offers 15 various floor plans which is unique in this market. Offering a diverse range of floor plans allows the property to cater to various residents depending on their living requirements. This variety ensures steady demand from individuals, couples, and families, enhancing the property’s long-term income potential.
One of the most appealing aspects of this investment opportunity is the assumable HUD 223 (f) Loan with a maturity date in 2048 and an attractive fixed interest rate of 3.3%. This long-term financing provides stability and a low cost of capital, making it an asset for investors seeking predictable cash flows once capital is put back into the property and performance/operations are stabilized. Baton Rouge, LA, has shown consistent growth and demand for rental properties in recent years. With average rents of $931, the property is positioned to capture competitive rental income while allowing room for potential rent increases in line with market trends. Broadmoor has an average unit size of 1,014 square feet and 15 different floor plans to choose from for prospective tenants. The property is individually metered for electricity which Tenants are responsible for this expense.
There is substantial potential to increase the property’s revenue by updating and modernizing units, allowing for higher rent rates. A strategic renovation plan can unlock this untapped income potential and enhance the property’s overall marketability. Broadmoor Plantation presents a compelling opportunity for investors seeking a large property, long-term fixed low interest rate financing, and the potential for income growth when significant capital is spent on the property. One way to handle the construction needed for the property is to take out a supplemental loan for the construction with Dwight Capital which is who services the existing HUD loan. The supplemental loan would be coterminous with the 1st position mortgage and could be the perfect vehicle to access the capital the property needs at an attractive LTC, rate and AM schedule. The 1st position loan and the supplemental loan could be handled at the same time while going through the loan assumption process.