The Grandwood Apartments

Multi-Family for Sale
Catylist Listing ID: 30331243
Property Subtypes: Low-Rise/Garden
Number of Units: 64 Units
Building Size (RSF): 53,248 SF
Gross Building Area: See Agent
Gross Land Area: 2.96 Acres
Sale Price: $1,500,000
Unit Price: $23,437.50 Per Unit
Property Use Type: Investment
Building Name: The Grandwood Apartments
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 1/21/2019

Overview / Comments

Property Highlights
-64 total units
-Well maintained, attractive property
-All metal roofs installed in 2009
-Property offers all two bedroom units with well laid out floor plans
-Onsite leasing office and laundry facilities
-Tenants are responsible for all utilities
-Located on the busy Highway 90 boasting an average daily traffic count of over 18,000 vehicles per day
-Value add opportunity with better management, aggressive leasing/marketing plan, and increasing the below market rents

Asking Price: $1,500,000 ($23k/unit)

Please see below link to access all operating and marketing information


Seller is an owner/agent

Additional Details

Nearest MSA: Morgan City
County: Saint Mary
Tax ID/APN: 2834321101.00
Percent Occupied: 76%
Highway Access: Highway 90
Total Number of Buildings: 8
Property Condition: Good
Number of Stories: 2
Year Built: 1980
Construction/Siding: Brick
Exterior Description: Brick veneer with wood siding
Parking Type: Surface
Parking Description: ample parking
Laundry: Laundromat Nearby
Heat Type: Electricity
Fuel: Electric
In Flood Plain?: Yes
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 2,593 7,855 11,834
Median Age: 37.2 37.47 37.52
Households: 1,008 3,023 4,597


Photograph of Listing Agent

Christopher M Gremillion

NAI/Latter & Blum Commercial Baton Rouge Baton Rouge, LA 70806
The information presented herein is provided as is, without warranty of any kind. Neither Louisiana Commercial Database, LLC nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.