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Cobblestone at Essen 5431 Essen Ln 172 Unit Apartment Building $23,495,000 ($136,599/Unit) 7.23% Cap Rate Baton Rouge, LA 70809
Executive Summary
A garden-style apartment complex consisting of 18 walk-up buildings that contain a total of 173 apartments and320 parking spaces. Cobblestone at Essen makes it easy to love
your location. Our corner near Westminster has everything you need and more. There’s a plethora of shopping, dining, and entertainment options within reach at Cobblestone at Essen, including the Mall of Baton Rouge. The property is just a few minute walk around the corner from Albertsons and less than a 10-minute drive from Rouses Market and Walmart Supercenter. You’ll be close to school or work at several nearby organizations like Baton Rouge Community College, Louisiana State University, or Ochsner Medical Complex.
your location. Our corner near Westminster has everything you need and more. There’s a plethora of shopping, dining, and entertainment options within reach at Cobblestone at Essen, including the Mall of Baton Rouge. The property is just a few minute walk around the corner from Albertsons and less than a 10-minute drive from Rouses Market and Walmart Supercenter. You’ll be close to school or work at several nearby organizations like Baton Rouge Community College, Louisiana State University, or Ochsner Medical Complex.
Property Facts
| Price | $23,495,000 | Building Class | B |
| Price Per Unit | $136,599 | Lot Size | 9.18 AC |
| Sale Type | Investment | Building Size | 194,480 SF |
| Cap Rate | 7.23% | Average Occupancy | 91% |
| No. Units | 172 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1972 |
| Property Subtype | Apartment | Parking Ratio | 1.65/1,000 SF |
| Apartment Style | Garden |
| Price | $23,495,000 |
| Price Per Unit | $136,599 |
| Sale Type | Investment |
| Cap Rate | 7.23% |
| No. Units | 172 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 9.18 AC |
| Building Size | 194,480 SF |
| Average Occupancy | 91% |
| No. Stories | 3 |
| Year Built | 1972 |
| Parking Ratio | 1.65/1,000 SF |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Cable Ready
- Dishwasher
- Disposal
- Microwave
- Washer/Dryer
- Washer/Dryer Hookup
- Heating
- Ceiling Fans
- Tile Floors
- Eat-in Kitchen
- Hardwood Floors
- Refrigerator
- Range
- Tub/Shower
- Walk-In Closets
- Carpet
- Breakfast Nook
- Deck
- Den
- Pantry
- Patio
- Window Coverings
Site Amenities
- 24 Hour Access
- Business Center
- Controlled Access
- Clubhouse
- Courtyard
- Fitness Center
- Laundry Facilities
- Pool
- Property Manager on Site
- Tenant Controlled HVAC
- Gated
- Breakfast/Coffee Concierge
- Laundry Service
- Pet Play Area
- Maintenance on site
- Online Services
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 24 | - | 648 |
| 2+1 | 22 | - | 995 |
| 2+1.5 | 114 | - | 966 - 1,152 |
| 3+2 | 12 | - | 1,265 |
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Property Taxes
| Parcel Number | 01851578 | Improvements Assessment | $1,204,000 |
| Land Assessment | $28,000 | Total Assessment | $1,232,000 |
Property Taxes
Parcel Number
01851578
Land Assessment
$28,000
Improvements Assessment
$1,204,000
Total Assessment
$1,232,000
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Cobblestone at Essen | 5431 Essen Ln
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