Discover a rare value-add multifamily investment opportunity in a strategically advantageous Shreveport location. This property presents a canvas for an experienced investor to capitalize on its significant potential. The Oak Meadows Apartments consist of 14 buildings: 11 are quad duplexes (44 units), another similar building has five to six units (where extra units are a basement/laundry room), and then there are two big buildings with the remaining 60 units. Estimated unit ranges are 622-731 square feet and 990 square feet on the 7.75-acre site. Comprising 14 brick buildings, this property offers a substantial footprint in the Shreveport multifamily market. Currently an abandoned lot with buildings needing extensive renovation, this property provides a unique opportunity to recreate a beautiful/modern living environment. Turn this distressed property into a highly desirable residential community to benefit from Shreveport's growing economy and community (as evidenced by amazing market comps). This is centrally located between downtown Shreveport and Kings Highway, so future residents can easily access the city's amenities and attractions. The Shreveport-Bossier City area has seen an increase in median household income, indicating a positive economic trend. It is conveniently located near Fairfield Center, Old River Marketplace, and Harrison Shopping Center, boasting a variety of businesses and ensuring a vibrant and convenient lifestyle for residents. Proximity to hospitals such as Brentwood Hospital and Specialists Hospital Shreveport adds to the area's appeal. Local Information: Rapper 50 Cent expanded on his recently announced Studio development by signing a 30-year lease in late March. Tens of thousands of jobs are expected to be announced in the coming months. The leased location is only eight minutes away from the Oak Meadows Apartments. Last week the State Government of Mississippi announced they were getting rid of state income tax. Needed Construction: There are two frames on the building—two brand-new roofs need to be rebuilt. The rest of the roofs need new shingles and new plywood. All buildings need windows, appliances, and doors. The estimated cost per unit is $30K. The estimated number of parking spots equals one for every apartment; there are two parking lots in the front and back with structures that are perfect for solar panels. The gates outside the building look good, but the 10-foot fencing needs to be rebuilt. As for the exteriors of the buildings, the brick frames are solid and need windows and doors. Everything must be cleaned out as there is garbage, waste, and new appliances. The parking lot is in pretty good shape; only one piece needs to be repaved. Once stabilized, the Cap Rate is projected to soar to 37.7%. Inquire today for more information. Please note that we require 10% EMD and a minimum 25% cash amount at closing before any contracts are accepted. Call (754) 218-0221 anytime 24/7 for more information!