1901 Centenary BlvdShreveport, LA 71101

Property Details for 1901 Centenary Blvd

Year built

1939

Lot size

7.75 AC

Property size (Sq ft)

87,108 SF

Property type

Apartment buildings

Description

This bank-owned foreclosure, Oakwood Meadows, presents a compelling value-add investment opportunity in Shreveport, Louisiana. The property comprises 119 units within a 14-building complex, totaling 87,108 square feet on a 7.75-acre lot. Built in 1939 and renovated in 2003, the property is currently vacant with an occupancy date of September 19, 2024. The asking price is $1,775,000, translating to $14,916 per unit and $20.38 per square foot. The property's current NOI is $0, however, a pro-forma NOI of $508,831 projects a 28.67% cap rate. Significant capital improvements are needed, estimated at approximately $40,000 per unit. The property features 249 parking spaces and is zoned RS-2. This fee-simple ownership opportunity offers substantial upside potential for a savvy investor. The land value alone is estimated at $1,250,000. The property is located at 1901 Centenary Blvd, Shreveport, LA 71101. This is a rare chance to acquire a large multifamily asset in a growing market, requiring substantial renovation but offering significant returns upon completion.

Location Insight

City

Shreveport

County

Caddo Parish

State

Louisiana

Latitude

32.4935

Longitude

-93.731

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