5500 Perkins Rd
- Institutional-quality, 312-unit Class A asset developed in 2015, featuring structured parking and best-in-class amenities
- Located in Baton Rouge’s premier, high-barrier-to-entry submarket, near LSU, Our Lady of the Lake, the Mall of Louisiana, and the Baton Rouge Medical District
- 96% occupancy as of marketing, indicating strong resident demand and asset performance
- Resort-style community amenities include a central parking garage with direct access, a pool with sun pavilion, a 24/7 fitness center, a co-working lounge, a media room, and pet parks.
- Luxurious unit interiors with stainless steel energy-efficient appliances, granite countertops, espresso-finished cabinetry, custom concrete or wood plank floors, soaking tubs, and walk-in closets.
- 15 unique floor plans, offering design diversity to meet a variety of tenant needs.
- Positioned along high-traffic Perkins Road, providing excellent visibility and accessibility to I-10, I-12, and I-110.
- Surrounded by major employment drivers, including LSU (6,250 employees), ExxonMobil (4,215), and Our Lady of the Lake (4,500).
- Average household income within 1 mile exceeds $95,000, highlighting strong rental affordability (22.8% rent-to-income ratio).
- Easy drive to retail and restaurants, with Perkins Rowe, Towne Center, Acadian Village, and City Park nearby
- Dynamic tenant base skewed toward white-collar professionals in medical, education, engineering, and tech industries
- Located within a vibrant health and wellness corridor, adjacent to Pennington Biomedical Research Center, Mary Bird Perkins Cancer Center, and multiple new hospital facilities
- Modern construction with low maintenance costs: slab foundation, pitched roofs, Hardi and brick exterior, and individual 40-gallon hot water heaters
- Zone X flood designation, minimizing insurance costs and risk exposure
- Exceptional design and livability—units feature 10’ ceilings on the first floor, private balconies, patios with storage, and brushed nickel hardware throughout
Property Description
Investment Opportunity Summary: The District Apartments 5500 Perkins Road, Baton Rouge, LA 70808 The District Apartments presents a rare opportunity to acquire a Class A, institutional-quality multifamily asset in one of Baton Rouge’s most desirable submarkets. Built less than 10 years ago, this 312-unit community is surrounded by top-tier retail, dining, healthcare, and recreational amenities, and is just minutes from LSU and the Baton Rouge Health District. Pricing Guidance: $63.265M to $67.29M NOI (T12): ~$3.5M YEAR 1 PROFORMA NOI: ~$3.7M* *2% increase Gross Revenue = $100k, Reduce HR & Cleaning Expenes = $115,000 Effective Gross Income (T12): ~$5.37M Effective Gross Income (Y1 PROFORMA) ~ ~$5.47M Annual Expenses (T12): ~$1.87M Annual Expenses (Y1 PROFORMA) ~ $1.72M In-Place Occupancy: Stabilized Highlights: Strong, reliable cash flow from a stabilized and high-occupancy property. Attractive financing available at a 5.5% fixed rate with a healthy DSCR cushion. Exceptional location near LSU, top medical centers, City Park, and high-end retail. Above-market rents are supported by modern finishes, amenities, and walkability
Key Property Information
| Listing Status: | Unavailable |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| No. of Units: | 312 |
| Year Built: | 2015 |
| Building Size: | 283,608 Sq ft |
| Lot Size: | 10.65 Acres |
| No. of Stories: | 3 |
| APN: | 563781 |
| Opportunity Zone: | No |
| Property Website | Click Here |
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