2530 W Barnett Springs Ave | Ruston, LA 71270
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- LoopNet Team
2530 W Barnett Springs Ave
Ruston, LA 71270
Village Green · Multifamily Property For Sale
·
80 Units
INVESTMENT HIGHLIGHTS
- $1.6M in Value-Add Upside – With Interior Modernization and Beginning a Cable Contract
- 15.6% Cash-on-Cash Averaged Over 5 Years
- 65% of Ruston Population Is Renting – U.S. Census Bureau. $27,656 Median Household Income – 3-Mile Radius – Costar
- Increase Rents by $173–$212 to LURA Maximums – in the Extended Period – Expires in 2043
- Bring Occupancy to Submarket Average of 88% (Currently at 78%)
- 1.5-Miles From Louisiana Tech University – 11,000 Students Enrolled in 2021
PROPERTY FACTS
| No. Units | 80 | Building Size | 70,880 SF |
| Property Type | Multifamily | Average Occupancy | 78% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Garden | Year Built | 2000 |
| Building Class | C | Parking Ratio | 2.4/1,000 SF |
| Lot Size | 16.81 AC | ||
| Zoning | R3 | ||
| No. Units | 80 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 16.81 AC |
| Building Size | 70,880 SF |
| Average Occupancy | 78% |
| No. Stories | 2 |
| Year Built | 2000 |
| Parking Ratio | 2.4/1,000 SF |
| Zoning | R3 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Ceiling Fans
- Carpet
SITE AMENITIES
- Laundry Facilities
- Playground
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 20 | - | 621 |
| 2+2 | 40 | - | 916 |
| 3+2 | 20 | - | 1,091 |
PROPERTY TAXES
| Parcel Number | 11706 | Improvements Assessment | $338,957 |
| Land Assessment | $20,241 | Total Assessment | $359,198 |
PROPERTY TAXES
Parcel Number
11706
Land Assessment
$20,241
Improvements Assessment
$338,957
Total Assessment
$359,198
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