Muller's Lofts
Multifamily | 40 Units
Marketing description
Muller’s Lofts Apartments is a distinctive and historic mixed use property located in the heart of downtown Lake Charles, Louisiana. Housed in a four-story building at 625 Ryan Street, the community offers 40 loft-style units that combine industrial design elements with modern amenities. Originally built in 1910, the property was completely refurbished and converted to its current mixed use status in 2007. Muller’s Lofts include spacious residential layouts ranging from 773 to over 1,821 square feet, including one-bedroom, two-bedroom, and studio apartments. The property also offers office and retail spaces totaling 13,260 amount of SF which is where the value add play is located within this opportunity. Each unit is thoughtfully designed with high ceilings, exposed concrete finishes, large windows, and contemporary kitchens equipped with modern appliances. Residents enjoy in-unit washer/dryer hookups and open-concept living spaces that reflect the building’s urban character. The property also offers extensive parking with off street parking available along with dedicated parking located on the rear of the property on a 0.82 acre lot that wraps an entire city block. There is also the opportunity to potentially lease a portion of this lot to another business in the area or sell off a out parcel.
Muller’s Lofts offers a unique opportunity in downtown Lake Charles to acquire a historic mixed-use property that has provides consistent, stable cash flows from the residential units and the value add opportunity that comes with the vacant retail, office, and vacant lot that comes with the property.
Don’t miss out on your opportunity to own a piece of Lake Charles’s history.
Investment highlights
Muller’s Lofts, completely refurbished in 2007, and further renovated in 2021, is comprised of 40 units in one-bedroom and two-bedroom floor plan types. All 40 units provide an Urban Loft feel with exposed brick, and high ceilings. The units also feature individually metered electricity and a master meter for water and sewage. Remodeled in 2021, the building boasts a new roof, new windows, and a developed exterior. The stately property proudly sits on the corner of Ryan and Division, near the start of the Mardi Gras parade route.
In addition to the 40 multifamily units, the property also boasts 5,100 SF of ground floor store front retail. The property was redeveloped with all of the infrastructure needed to accommodate the build out of all unused retail space. This space would be perfect as an event or restaurant space.
Other revenue opportunities include 4,660 square feet of office space, which is demised between the mezzanine level and the second floor of the building. The second floor space can be utilized to enhance additional building amenities or additional revenue generators such as resident storage lockers or office rental space. The property offers a total amount of 13,260 square feet of vacant space that can be built out to provide further amenities for residents or generate additional income.
BUILDING SYSTEMS
Loft style apartments with high ceilings
Excellent infill location in the heart of Lake Charles
92% Occupancy level
Opportunity to continue to increase rents and generate additional fee income
0.82 Acre Parking lot in the rear of the building
13,260 SF of Vacant Space Available
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