232 Monarch Dr - Multi-Family FOR SALE


Houma, LA 70364
$1,150,000 USD
225-952-1255
232 Monarch Dr, Houma, LA for Sale
$1,150,000 USD
Multi-Family - FOR SALE
1/28
null | Request Cap Rate

232 Monarch Dr
Houma, LA 70364


HIGHLIGHTS

  • + 20 Units
  • + All 2BR/1BA
  • + Fully Equipped Classic Kitchens
  • + Individually Metered for Electricity and Master Metered for Water/Sewer
  • + 220 & 226 Monarch: Each Offers 8 Units, with a Shared Laundry Facility for Tenant Convenience with 2 new sets of laundry machines
  • + 232 Monarch: Features a 4-Unit Building with Washer and Dryer Connections in Each Unit.

OVERVIEW

We are pleased to present an opportunity to acquire a well-maintained, high-performing 20-unit apartment complex located in the desirable Houma, Louisiana market. This offering includes three separate buildings: two eight-unit buildings (220 & 226 Monarch Dr.) and a four-unit building (232 Monarch Dr.). This property boasts a strong occupancy history and offers investors a stable income stream with significant potential for long-term appreciation. -Strong Occupancy - The property consistently operates at strong occupancy levels with only two vacant units, demonstrating the desirability of the location and the quality of the units. -Well-Maintained Property - The entire complex is maintained well, minimizing future maintenance needs and ensuring consistent tenant satisfaction. The roofs on all three buildings were replaced in 2022. -Attractive Cap Rate - Offered at a competitive 9.2% capitalization rate, providing immediate cash flow and a strong return on investment.

FOR SALE DETAILS

PRICE

$1,150,000 USD

PRICE/SF

$67 USD /SF

# OF UNITS

20

PRICE/UNIT

$57,500

CAP RATE

Request Cap Rate

% LEASED

90%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1980

PARKING SPACES

-

LAND DETAILS

LAND ACRES

2 AC

LAND SF

87,120 SF

ZONING

MF

APN/PARCEL ID

12754

ASK ABOUT THIS PROPERTY

Landon LegerCBREMore Info
225-952-1255

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Landon LegerCBREMore Info
225-952-1255

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.