2653 Old Deridder HwyLake Charles, LA 70615

Property Details for 2653 Old Deridder Hwy

Lot size

5.71 AC

Property type

Residential income properties

Property subtype

Mobile home & RV parks

APN

932922

APU

932922

Description

This 9-acre mobile home park in Lake Charles, Louisiana (APN 932922), presents a compelling value-add investment opportunity. The property, built in the 1980s and renovated in 2023, boasts 52 spaces with concrete roads and two-car driveways on each pad. Currently at 40% occupancy (as of September 24, 2024), the park features 16 tenant-owned homes and 5 park-owned homes, leaving 31 vacant spaces for potential infill. Lot rents range from $230 to $350, while park-owned homes rent from $800 to $1,300. Significant upside potential exists through rent increases, filling vacant spaces, and implementing charges for water and trash services (currently included in rent). The park is serviced by city water and has an on-site treatment pond with quarterly testing. Tenants are responsible for their own electric service. Existing property management is in place, receiving 6% of gross income. The park's convenient location is just half a mile from a Walmart Supercenter. Prior approval is required before visiting the property. The property is situated at 2653 Old Deridder Hwy, Lake Charles, LA 70615.

• CAP approach

  CAP return

  Valuation

  6%

  $84,784,680

  6.5%

  $78,262,784

  7%

  $72,672,584

• Comparable approach

  Method

  Valuation

  Relative Method

  $72,818,488

  Geo Method

  $115,423,344

• Alternative Use

  Use

  Valuation

  Residential

  $78,262,784

  Hospitality

  $71,688,288

  Educational

  $59,643,816

  Medical

  $61,695,056

  Retail

  $92,779,264

Location Insight

City

Lake Charles

County

Calcasieu

State

Louisiana

Latitude

30.276

Longitude

-93.1723

CBSA code

29340

CBSA name

LAKE CHARLES, LA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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