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11620 Airline Hwy
Baton Rouge, LA 70816
Devonshire Apartments · Multifamily Property For Sale
·
100 Units
Investment Highlights
- Strong N O I - T’3 Annualized NOI at $610,000 and Hybrid NOI at $617,000.
- Great Location - Situated on Airline Hwy., Devonshire Apartment benefits from easy access to major highways including Siegen, I-10 and I-12
- Diverse Unit Mix - This property offers a variety of unit types (976 SF average unit size)
- Average Monthly Rents - $1,019/month and average rents PSF at $1.06/sf.
- Strong Occupancy Rate - Currently at strong occupancy levels (averaging 94% over the last 18 months)
- Asking Price is an 8% Cap Rate based off the True T'12 NOI of $560,000
Property Facts
| No. Units | 100 | Building Size | 97,560 SF |
| Property Type | Multifamily | Average Occupancy | 93% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Garden | Year Built | 1974 |
| Building Class | C | Parking Ratio | 1.91/1,000 SF |
| Lot Size | 4.91 AC | ||
| Zoning | MF | ||
| No. Units | 100 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 4.91 AC |
| Building Size | 97,560 SF |
| Average Occupancy | 93% |
| No. Stories | 2 |
| Year Built | 1974 |
| Parking Ratio | 1.91/1,000 SF |
| Zoning | MF |
Amenities
Unit Amenities
- Air Conditioning
- Cable Ready
- Dishwasher
- Disposal
- Washer/Dryer Hookup
- Heating
- Ceiling Fans
- Tile Floors
- Kitchen
- Refrigerator
- Range
- Tub/Shower
- Carpet
- Dining Room
- Vinyl Flooring
- Window Coverings
Site Amenities
- Laundry Facilities
- Playground
- Pool
- Property Manager on Site
- Laundry Service
- Maintenance on site
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 2 | - | 300 |
| 1+1 | 30 | - | 800 |
| 2+2 | 48 | - | 1,020 |
| 3+2 | 20 | - | 1,200 |
Property Taxes
| Parcel Number | 02055074 | Improvements Assessment | $253,792 |
| Land Assessment | $36,960 | Total Assessment | $290,752 |
Property Taxes
Parcel Number
02055074
Land Assessment
$36,960
Improvements Assessment
$253,792
Total Assessment
$290,752
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