678 and 710 Gloria Dr , #10

Description

Prime Investment Opportunity Current cap rate of 6.93% - Two Fully-Leased Townhome-Style Buildings. Located on Gloria Drive on the edge of a lovely residential neighborhood, this property features two identical 5-unit townhome-style apartment buildings offering strong, reliable income and minimal turnover. With 10 total units, the complex is currently at 100% occupancy with consistent tenants and up-to-date rent collection. Rent has been increased minimally with each leaserenewal, so there is clear potential to raise rates $100$150 per unit based on current market conditions. Tenants pay all utilities, including water, sewer, and trash, keeping operating expenses efficient. Internet is tenant's choice, and each unit has individual washer/dryer hookups, walk-in bedroom closets, and owner-provided refrigerators.Property highlights include:Townhome-style layouts with private entrances. Each unit is identical in layout, with two bedrooms and two full bathrooms. One bedroom has an ensuite bath, and hall bath also opens into the additional bedroom. There are 20 parking spaces + 2 handicap spaces. Architectural shingle roofs approx. 7 years old. 6 exterior + 4 interior HVAC units replaced within last 5 years. Smoke and CO2 detectors in all units. No pets allowed. Each unit has its own trash can (no dumpster). Utility Providers: Entergy (electric) and Baton Rouge Water (water/sewer/trash).