106 E 3rd St - Multi-Family FOR SALE


Belle Chasse, LA 70037- Plaquemines Parish
$950,000 USD
504-236-3891
106 E 3rd St, Belle Chasse, LA for Sale
$950,000 USD
Multi-Family - FOR SALE
1/17
null | Request Cap Rate

106 E 3rd St
Belle Chasse, LA 70037
Plaquemines Parish


HIGHLIGHTS

  • 23 One3 Bedroom units | Each Unit is 680 Square Feet
  • Laundry Room
  • Office/Storage Room
  • Owner-Owned Furniture, Fixtures, & Equipment

OVERVIEW

Oak Plaza Apartments has been owned and operated by the same family since 1978 and is being offered for sale as part of a generational succession. The property has maintained a strong and consistent occupancy history and is presently 100% occupied. It has been well maintained under long-term ownership. Historically, operations have not been optimized to maximize rental revenue or operating efficiencies, presenting a compelling value-add opportunity for an investor. Upside potential exists through market-supported rent growth, improved expense management, and professional operations. The asset is a stabilized, income-producing multifamily investment located in a market with job growth such as the new LNG liquefaction and export facility in Plaquemines Parish coupled with a limited number of multifamily properties in the immediate area. Oak Plaza Apartments consists of twenty-three (23) well-maintained one-bedroom/one-bathroom units with on-site laundry faciliites and an office/storage room, situated across two separate two-story buildings positioned on either side of a private, on-site parking lot exclusively for residents. The apartments are individually-metered electricity with central water service. With stable tenancy and strong rental demand, Oak Plaza Apartments provides an attractive investment opportunity.

FOR SALE DETAILS

PRICE

$950,000 USD

PRICE/SF

$56 USD /SF

# OF UNITS

23

PRICE/UNIT

$41,304

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Oak Plaza Apartments

PROPERTY TYPE

Multi-Family

ADD'L SUBTYPES

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1978

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.59 AC

LAND SF

25,875 SF

ZONING

-

APN/PARCEL ID

1514950

ASK ABOUT THIS PROPERTY

504-236-3891

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504-236-3891

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