- Available Spaces
• Year Built: 1976
4639 Tigerland Ave is amulti-family property for lease in Baton Rouge, LA. The property currently has 1 multi-family space for lease and is marketed by Durham Real Estate Inc.
32 units with one being used as an office,new hardwood floors in den and dining area in all 32 units, carpet in BR, tile and laminate in kitchens and bath, all 2BR 1 bath. Heat cool unit in den, each BR has a smaller A/C.Fully leased for 2011. Easy to rent and maintain. Additional laundry room income of $400/month cash
Each one rents for $550-$625/month.
POTENTIAL income 32 x $650 x 12 = $249600 per year
Current Expenses Approximate 33 % of rents.( See attached file ). Tax bills attached as well as actual water/sewer bills.
MARCH and APRIL 2011 RENT ROLL ATTACHED
Using a 3% vacancy rate, rents and current expenses puts cap rate
for 2010 with one unit as an office(only 31 were rented) cap is 9.2
Average rents for 2008-2010 were $216,098 gross rents. Rents were less in 2009 and 2010 as one unit was used as an office beginning in 2009, in 2008 all 32 were used for rentals. 2011 rents are tracking above 2009 and 2010 even with one unit still an office.
Lot size 140 x 302, Built in 1976
See attached photos and attached expenses as well as rent roll
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