710 Mcneese StLake Charles, LA 70605

Property Details for 710 Mcneese St

Year built

1970

Property size (Sq ft)

40,800 SF

Property type

Apartment buildings

Description

Acadian Oaks Apartments presents a compelling investment opportunity in Lake Charles, Louisiana. This well-located Class B multifamily property boasts 51 units spread across six, two-story buildings, totaling 40,800 square feet. Built in the 1970s, the complex underwent extensive renovations following Hurricanes Laura and Delta, ensuring it's ready for new tenants. The unit mix includes a variety of sizes and layouts: eight 1-bedroom/1-bathroom townhouses (712 sq ft each), thirty-two 2-bedroom/1-bathroom flats (800 sq ft each), six 2-bedroom/2-bathroom townhouses (997 sq ft each), and three 3-bedroom/2-bathroom flats (1,087 sq ft each). Ample parking is available with 77 spaces. Situated near the intersection of Lake Street and West McNeese Street, this property enjoys a desirable location, conveniently close to McNeese State University (less than a mile away). The asking price is $3,300,000, representing a 6.00% cap rate. This is a ground lease-free property offering significant potential for future returns. The property is almost completely renovated and ready for immediate occupancy.

Location Insight

City

Lake Charles

County

Calcasieu Parish

State

Louisiana

Latitude

30.1761

Longitude

-93.2313

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