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Norman Bauer Apartments 1500 Norman Bauer Dr 15 Unit Apartment Building $585,000 ($39,000/Unit) 13.50% Cap Rate Franklin, LA 70538
Investment Highlights
- Tenant pays utilities
- 13.5 CAP Rate
- Washer/Dryer connections in all units
Executive Summary
Investment Opportunity – 15 Unit Apartment Building
Located at 1500 & 1503 Norman Bauer Dr in Franklin, La, these two well-maintained apartment buildings offer a stable income-producing asset in a desirable rental market. The property features 15 spacious townhouse style apartments.
All units are equipped with washer/dryer connections, ensuring tenant convenience and higher rental appeal. The property stays 100% occupied with little effort, providing immediate consistent cash flow.
Whether you're expanding your portfolio or seeking a turnkey investment, this multifamily opportunity is ideal for both new and seasoned investors.
Highlights:
15 Two-Bedroom, 1.5-Bath Units
Leased at $750/month
Washer/Dryer connections in all units
Tenant pays utilities
.53 Acres
13.5 CAP Rate
Located at 1500 & 1503 Norman Bauer Dr in Franklin, La, these two well-maintained apartment buildings offer a stable income-producing asset in a desirable rental market. The property features 15 spacious townhouse style apartments.
All units are equipped with washer/dryer connections, ensuring tenant convenience and higher rental appeal. The property stays 100% occupied with little effort, providing immediate consistent cash flow.
Whether you're expanding your portfolio or seeking a turnkey investment, this multifamily opportunity is ideal for both new and seasoned investors.
Highlights:
15 Two-Bedroom, 1.5-Bath Units
Leased at $750/month
Washer/Dryer connections in all units
Tenant pays utilities
.53 Acres
13.5 CAP Rate
Financial Summary (Actual - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts Under Contract
| Price | $585,000 | Apartment Style | Low-Rise |
| Price Per Unit | $39,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.08 AC |
| Cap Rate | 13.50% | Building Size | 12,482 SF |
| No. Units | 15 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1985 |
| Property Subtype | Apartment | Parking Ratio | 2.4/1,000 SF |
| Price | $585,000 |
| Price Per Unit | $39,000 |
| Sale Type | Investment |
| Cap Rate | 13.50% |
| No. Units | 15 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.08 AC |
| Building Size | 12,482 SF |
| No. Stories | 2 |
| Year Built | 1985 |
| Parking Ratio | 2.4/1,000 SF |
Amenities
Unit Amenities
- Air Conditioning
- Washer/Dryer Hookup
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
- Tenant Controlled HVAC
- Smoke Free
- Online Services
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1.5 | 15 | $750.00 | - |
1 1
Fairly walkable
40/100
Exceptionally drivable
90/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 2264741175 | Improvements Assessment | $904 (2025) |
| Land Assessment | $345 (2025) | Total Assessment | $1,249 (2025) |
Property Taxes
Parcel Number
2264741175
Land Assessment
$345 (2025)
Improvements Assessment
$904 (2025)
Total Assessment
$1,249 (2025)
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Norman Bauer Apartments | 1500 Norman Bauer Dr
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