For Sale
$3,500,000

5500 Weaver RdLake Charles, LA 70605

13.55 Acres, 240-Unit Potential

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional 13.55-acre land parcel in Lake Charles, Louisiana, presents a compelling investment opportunity. Located at 5500 Weaver Rd, 70605, this shovel-ready site is fully entitled for a 240-unit Class A apartment complex, comprising ten 24-unit buildings. The project, approved by the Lake Charles City Council on October 4, 2017, is designed for construction in a single phase, projected to take 18 months. The site benefits from a strategic location in a high-growth area of the city, where residential development is concentrated, and the city has invested in infrastructure to support this expansion. Lake Charles's robust economy, fueled by significant ongoing and planned energy and infrastructure projects (estimated at $118 billion between 2017 and 2027), is driving substantial population growth, creating a high demand for housing. This demand is further underscored by projections of 35,000 new residents within the next decade. A third-party market study and appraisal confirm the project's feasibility. The asking price is $3,500,000, translating to $258,302 per acre. The seller is open to considering owner financing or a joint venture with a qualified developer. This opportunity offers significant potential for substantial returns upon project completion and lease-up. The project's viability is supported by a robust market study and appraisal, and the seller will consider owner financing or a joint venture with a qualified developer.

Highlights

  • Shovel-ready 13.55-acre site in high-growth Lake Charles, LA, fully entitled for a 240-unit Class A apartment complex.
  • Proposed 240-unit Class A apartment complex, comprised of ten 24-unit buildings.
  • 18-month construction timeline with leasing commencing in the first buildings after 12 months.
  • Seller will consider owner financing or joint venture with a qualified developer.

Property Details for 5500 Weaver Rd

Property type
Land
Lot Size (sq. ft)
590,238 SF

Location Insight

City
Lake Charles
County
Calcasieu Parish
State
Louisiana
Latitude
30.1589138
Longitude
-93.2584233
5500 Weaver Rd, Lake Charles, Louisiana

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5500 Weaver Rd
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