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Multifamily

Bella of Baton Rouge

1855 Boulevard De Province, Baton Rouge, LA 70816

Listing Price: Request For Offer

Number of Units
220
Occupancy
52.0%

Investment Overview

Marcus & Millichap is pleased to announce the exclusive listing of Bella of Baton Rouge Apartments, a 220-unit apartment community offered free and clear in Baton Rouge, LA. The community is located with convenient access to jobs, commercial providers and all the MSA (pop. 834,000) has to offer. VALUE-ADD OPPORTUNITY Approximately three-quarters of the existing apartment inventory in the metro is greater than 20 years old. Within the past 10 years, apartment inventory increased less than 10%. The vintage of current inventory indicates a shortage of newer development highlighting the opportunity to reposition well-located apartment complexes like Bella of Baton Rouge. With 64 units off-line, the property is well-positioned for a buyer to renovate and capture the upside of bringing those 64 units back online ($676,000 increase to topline revenue) with further growth realized by upgrading the 100+ "classic" units. RENOVATED RENT PREMIUM ANALYSIS Comparable properties indicate the market will pay a premium for units that undergo exterior and interior cosmetic upgrades. Based on the comparable renovated properties, investors can achieve an average of $150/unit/month rent premiums completing upgrades such as, but not limited to, LVP flooring, black or stainless-steel appliances, brushed nickel hardware and light fixtures, tile back splash, and modern paint pallet. PROXIMITY TO JOBS AND ACCESS TO ENTIRE MSA Bella of Baton Rouge benefits from its proximity to some of the largest employers in the state such as ExxonMobil Baton Rouge Refinery, the fifth-largest oil refinery in the U.S. and 13th largest in the world along with the state's largest university, Louisiana State University.

Investment Highlights

  • Value Add Opportunity
  • Renovated Rent Premium
  • Proximity to Jobs and Access to Entire MSA

Exclusively Listed By

Multifamily

Bella of Baton Rouge

Listing Price: Request For Offer

Number of Units
220
Occupancy
52.0%

Investment Highlights

  • Value Add Opportunity
  • Renovated Rent Premium
  • Proximity to Jobs and Access to Entire MSA

Investment Overview

Marcus & Millichap is pleased to announce the exclusive listing of Bella of Baton Rouge Apartments, a 220-unit apartment community offered free and clear in Baton Rouge, LA. The community is located with convenient access to jobs, commercial providers and all the MSA (pop. 834,000) has to offer. VALUE-ADD OPPORTUNITY Approximately three-quarters of the existing apartment inventory in the metro is greater than 20 years old. Within the past 10 years, apartment inventory increased less than 10%. The vintage of current inventory indicates a shortage of newer development highlighting the opportunity to reposition well-located apartment complexes like Bella of Baton Rouge. With 64 units off-line, the property is well-positioned for a buyer to renovate and capture the upside of bringing those 64 units back online ($676,000 increase to topline revenue) with further growth realized by upgrading the 100+ "classic" units. RENOVATED RENT PREMIUM ANALYSIS Comparable properties indicate the market will pay a premium for units that undergo exterior and interior cosmetic upgrades. Based on the comparable renovated properties, investors can achieve an average of $150/unit/month rent premiums completing upgrades such as, but not limited to, LVP flooring, black or stainless-steel appliances, brushed nickel hardware and light fixtures, tile back splash, and modern paint pallet. PROXIMITY TO JOBS AND ACCESS TO ENTIRE MSA Bella of Baton Rouge benefits from its proximity to some of the largest employers in the state such as ExxonMobil Baton Rouge Refinery, the fifth-largest oil refinery in the U.S. and 13th largest in the world along with the state's largest university, Louisiana State University.

Exclusively Listed By

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