Recently Renovated 12-unit Apartment Complex Near LSU Main Campus!
This 12-unit complex is situated just a 2-minute walk from LSU’s main campus and covers APX 7,714 square feet on a 12,000-square-foot lot. Four of the 12 units feature 2 bedrooms and 1 full bathroom with the remaining 8 units featuring 1 bedroom + office and 1 full bath. The Abbott Price projected cap rate is 14%.
The rental rates for the property are currently below market value, offering the potential for increased cash flow once the property is completely updated.
In the last 60 days, significant improvements have been made to the property. A brand-new roof has been installed, ensuring the durability and longevity of the building. Additionally, the exterior has been freshly painted, giving the complex a refreshed and attractive appearance.
Five units are being renovated, including granite countertops and stainless steel appliances, once completed. These units are currently vacant during renovation. Seven units are occupied by long-term paying tenants. Each unit has its own electrical meter.
The property has also received updates to its electrical systems, ensuring safety and efficiency. The AC units have been replaced with newer models, providing improved climate control and energy efficiency for residents. Looking ahead, exterior and parking lot updates will begin soon, further enhancing the property’s curb appeal and convenience for tenants.
The property is poised to generate a substantial cash flow increase with these recent improvements and ongoing renovations. After the renovations are complete, it is projected to yield a monthly cash flow of over $12,000/month. The projected cap rate is 14%.
Don’t miss out on this excellent investment opportunity. Take advantage of the property’s prime location, the potential for increased rental rates, and the value added by recent upgrades. Contact us now to learn more and schedule a viewing!
Investment Highlights:
- The projected cap rate is 14%
- The 12-unit complex is situated just a 2-minute walk from LSU’s main campus
- Long-term paying tenants occupy 7 units
- Individual electrical meters
- Projected ARV monthly cash flow of over $12,000/month
Property Improvements:
- New roof
- Updated electrical systems
- A/C Units replaced w/newer models
- Exterior paint
- The interior renovation of 5 units with upgraded fixtures, appliances, and finishes is almost complete.
