11620 Airline Hwy

CBRE Baton Rouge invites you to explore Devonshire Apartments of Louisiana, a 100- unit apartment community located at 11620 Airline Hwy, Baton Rouge, LA. This prime market-rate multifamily asset offers a diverse range of unit types, accommodating tenants’ needs from efficiencies to three-bedroom/two-bathroom apartments. Devonshire Apartments boasts an excellent location, adjacent to Siegen Lane and just minutes from Interstate 10 and Interstate 12. Property is located off Airline Highway, a major thoroughfare running north and south through Baton Rouge to Ascension Parish, providing convenient access to a variety of shopping, dining, employers and entertainment options throughout Baton Rouge. The property currently operates at strong occupancy levels, with average rents reflecting competitive market conditions. This well-maintained community features 37 renovated units completed in 2021, presenting significant upside potential for new owners through the opportunity to renovate more units and increase rental rates and enhance property value. This is a unique opportunity to invest in a well-located asset with immediate cash flow and substantial upside potential through value-add strategies.

See the Below Link to Access the Confidentiality Agreement and All Due Diligence Materials.

https://www.cbredealflow.com/buyer/agreement?pv=Em5QmEQ-k7NvduPF73CE1yrRHnu30NJXY01Drgdo5_pEDvWJo42Kszf29BJCZc12

Contact Agents for any additional information of questions.

• Price is TBD by Market - contact listing agents for pricing guidance.
• Strong N O I - T’3 Annualized NOI at $610,000 and Hybrid NOI at $617,000.
• Average Monthly Rents - $1,019/month and average rents PSF at $1.06/sf.
• Great Location - Situated on Airline Hwy., Devonshire Apartment benefits from easy access to major highways including Siegen, I-10 and I-12
• Strong Occupancy Rate - Currently at strong occupancy levels (averaging 94% over the last 18 months), Devonshire Apartments showcases a solid performance in the Baton Rouge market.
• Diverse Unit Mix - This property offers a variety of unit types (976 SF average unit size), from efficiencies to three-bedroom/ two-bathroom apartments, catering to a broad demographic and increasing tenant demand.
• Recent Renovations - With the 37 renovated units bringing in higher rents there is a proven track record that you can substantially increase your rents through renovating the remaining units