A 32-unit apartment complex in Tigerland has been sold to a local restaurant owner for $1.6 million.
The Chateau Apartments of Baton Rouge LLC sold The Chateau apartments at 4636 Alvin Dark Ave. in a deal that was filed Wednesday with the East Baton Rouge Clerk of Court’s office. The group is represented by Paul White of Baton Rouge. Jann Properties 2 LLC, which is based in Prairieville and represented by Chris Nguyen, was the buyer.
Nguyen is co-owner of the Saigon Noodles restaurants in Baton Rouge and Lafayette as well as Blu Basil in Lafayette.
The Chateau was built in 1971 and renovated in 2016, said Jonathan Walker of Maestri-Murrell Commercial Real Estate, who represented the seller along with Chad Rigby of Stirling Properties. The complex is more than 90% occupied, with rents that range between $650 for a one-bedroom, one-bath to $750 for a two-bedroom, one-bath unit.
Lori Palmer, Windy Corcoran and Linda Barbay, all of Burns & Co., represented Nguyen. Nguyen owns some fourplex rental units in Tigerland and wanted to make a bigger investment in the area, Palmer said.