2200 Bancroft St - Apartments FOR SALE


Lake Charles, LA 70607
$2,100,000 USD
832-646-0222
2200 Bancroft St, Lake Charles, LA for Sale
$2,100,000 USD
Apartments - FOR SALE
1/21
null | 10.29% Cap Rate

2200 Bancroft St
Lake Charles, LA 70607


HIGHLIGHTS

  • Prime investment opportunity.
  • Remodeled but Room for value add.

OVERVIEW

price dropped ! Prime investment opportunity. Great location. Appraised at 2.3million in January of 2024 well over asking price. Owners have completely remodeled complex in 2024 and stabilized occupancy as of may 1, 2025 to 92% occupancy... The NOI is based on 2025 proforma $950 to $1050 avg rent per unit with potential go $200 higher per unit. Units have vinyl /laminate flooring, new refrigerator, appliances , new two ton ac units with central air and heating. parking lot was repaved in 2024. property has metal roof less then 3 yrs old Community has onsite & off-street parking, new laundry site has 4 washers 2 dryers owned outright as extra income . washer/dryer hookups on all one story units for added convenience. Apt 16 is used as a storage but can be rented for extra income $950 Utilities like sewage, garbage, and water are included

FOR SALE DETAILS

PRICE

$2,100,000 USD

PRICE/SF

$102 USD /SF

# OF UNITS

28

PRICE/UNIT

$75,000

CAP RATE

10.29%

% LEASED

93%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1980

PARKING SPACES

56

LAND DETAILS

LAND ACRES

1.49 AC

LAND SF

64,687 SF

ZONING

-

APN/PARCEL ID

00834599,00834602,00834610,00834629,00834645

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Fabian CastaConcord Manor ApartmentsMore Info
832-646-0222

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Fabian CastaConcord Manor ApartmentsMore Info
832-646-0222

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