1901 Centenary BlvdShreveport, LA 71101

  • Residential income properties
  • 87,108 SF
For Sale
$1,775,000 View listing

Property Details for 1901 Centenary Blvd

Year built
1939
Lot size
7.75 AC
Property size (Sq ft)
87,108 SF
Property type
Residential income properties
Property subtype
Multifamily properties

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.

1901 Centenary Blvd, Shreveport, Louisiana

Location Insight

City
Shreveport
County
Caddo Parish
State
Louisiana
Latitude
32.4935
Longitude
-93.731

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