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Opportunity Zone
St. Charles Manor Apartments
90% occupied, affordable housing, motivated seller
Listing Contacts
Active
Asking Price: $2,400,000
Earnest Money Deposit: 1% min.
Address
1259 St Charles St, Thibodaux, LA 70301
Show on MapDate Added
Aug 29, 2023
Days on Market
663 days
Time Since Last Update
41 days
Details
Property TypeMultifamily
SubtypeApartment Building
Investment TypeValue Add
ClassB
Square Footage92,500
Price/Sq Ft$25.95
Cap Rate16.55%
Pro-Forma Cap Rate19.95%
Occupancy90%
NOI$397,144
Pro-Forma NOI$478,900
Units96
Buildings10
Stories2
Broker Co-OpYes
Price/Unit$25,000
INTELLIGENCEMarketing Description
Consisting of 4, 3, & 2 bedrooms. Current rents significantly below market rate and chance for buyer to raise all rents to market with little to no renovations. All new roofs across 10 buildings, major renovation work done on both interior and exterior. Dedicated leasing office and conference room, management willing to stay on. Significant upside in improving rents to market rent (~67% under market rate). Cash flows as is. Do not disturb tenants or management on site. Please reach out for any questions including Offering Memorandum and to schedule appointments.
Investment Highlights
-
30-40% loss to lease on existing in place leases
Valuation Calculator
Valuation Calculator
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
> $397,144.00
$33,095.33/mo
Valuation Metrics
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0
DSCR
16.55%
Cap Rate
16.55%
ROI
Property History
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Due Diligence
Listing Contacts
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