A few years ago, Allen Walsh bought the 18 duplex units in the South Park Apartments, located just off Airline Highway near the intersection of Jefferson Highway, then converted them into condos and changed the name to Live Oak Circle.
Now the complex, which consists of two-, three- and four-bedroom units, has been sold to Elf Oaks LLC, a California investor, for $925,000. The property was purchased from IberiaBank. Carmen Austin and Hank Saurage with Saurage Rotenberg Commercial Real Estate brokered the transaction, which closed Dec. 30.
Elf Oaks plans to renovate the 18 units into short- and long-term corporate housing catering to movie industry employees and to workers relocated to the Baton Rouge area. At the time the property was purchased, 13 units were occupied. Renovations should begin shortly.
Appraiser Tom Cook owns Cook Moore and Associates. Reach him at 293-7006 or TCook@cookmoore.com.
