42553 Hwy 42 - Specialty FOR SALE


Prairieville, LA 70769
$3,000,000 USD
225-405-3257
42553 Hwy 42, Prairieville, LA for Sale
$3,000,000 USD
Specialty - FOR SALE
1/3
null | 8.75% Cap Rate

42553 Hwy 42
Prairieville, LA 70769


HIGHLIGHTS

  • Located in Flood Zone AE & all homes are above flood plain
  • All homes built in 2018
  • 26 - 3bed/2bath homes leased at $1300/month average
  • 1 - 2bed/1bath home leased at $950/month
  • $414,000 scheduled gross annual income
  • $262,500 NOI

OVERVIEW

Exceptional investment opportunity. This mobile home park with 27 park-owned homes and 3 lot rentals offers exceptional value. Located in the desirable Ascension Parish School District, this park is currently reported to maintain strong occupancy. With city maintained road, reported scheduled gross income of $414,000, city water and sewer, and 2018 model homes described as being in like-new condition, this offering presents a compelling cash-flow investment opportunity. Contact Broker today for investment details.

FOR SALE DETAILS

PRICE

$3,000,000 USD

PRICE/SF

$235 USD /SF

CAP RATE

8.75%

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Old Galveston Mobile Home Park

PROPERTY TYPE

Specialty

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

C

YEAR BUILT

2018

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

4.38 AC

LAND SF

190,793 SF

ZONING

C-6-A & C-6-B-1-A

APN/PARCEL ID

6713600

ASK ABOUT THIS PROPERTY

David VercherKW Commercial Baton RougeMore Info
225-405-3257

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David VercherKW Commercial Baton RougeMore Info
225-405-3257

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