2200 Bancroft StLake Charles, LA 70607

Property Details for 2200 Bancroft St

Year built

1980

Lot size

0.50 AC

Property size (Sq ft)

20,580 SF

Property type

Apartment buildings

Description

This stabilized Class B multifamily investment property, located at 2200 Bancroft St, Lake Charles, LA 70607, presents a compelling opportunity. The property consists of four, two-story buildings totaling 20,580 square feet on a 0.5-acre lot. Built in 1980 and extensively renovated in 2024, the property boasts 28 units with a 95% occupancy rate. Each unit features laminate flooring, a refrigerator, oven, and central heating. Residents enjoy the convenience of onsite and off-street parking, along with washer/dryer hookups. Utilities including sewage, garbage, and water are included. The asking price is $2,200,000, translating to $106.90 per square foot and $78,571.43 per unit. This property offers significant value-add potential. Its prime location offers proximity to the Golden Nugget Lake Charles Hotel & Casino, L'Auberge Casino Resort, McNeese University, and Lake Charles Regional Airport. Furthermore, it's situated in a quiet subdivision adjacent to a new DR Horton community. The spacious floor plans, including townhome-style units, contribute to the property's appeal. This is a rare opportunity to acquire a well-maintained, high-occupancy apartment complex in a desirable location.

Location Insight

City

Lake Charles

County

Calcasieu Parish

State

Louisiana

Latitude

30.1911

Longitude

-93.1903

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